DTI plans launch of trade missions in major markets

MANILA, Philippines — The Department of Trade and Industry (DTI) is looking to conduct trade missions in key markets such as Japan, China, Europe, as well as Australia and New Zealand this year to encourage more firms to invest and do business with the Philippines, as well as enable local companies to tap opportunities overseas. 

Trade Secretary Ramon Lopez said the agency usually has more than 10 trade missions in a year, which are attended either by him or a trade undersecretary. 

On top of the trade missions, he said visits are also made to other countries as the agency receives invitations to speak to investors overseas. 

For this year, he said the DTI would like to do more trade missions in Japan, a priority market as there are many Japanese firms interested to invest in the Philippines. 

He said there are also plans to visit countries in the European Union (EU) this year. 

“They’re looking for us to have a roadshow in EU,” he said. 

Former EU ambassador to the Philippines Franz Jessen has earlier said there is a need for more visits to be conducted in both directions to get some investments to come to this country. 

Lopez said the DTI likewise intends to have trade missions in China this year, as well as in Australia and New Zealand. 

As trade missions are being conducted, he said the DTI would also continue export promotion efforts by providing support to firms’ participation in international trade exhibits. 

“There will be greater awareness for exports, more support. We’ll be able to pay at least for expo expenses,” he said. 

Firms from other countries are able to get support to join international trade shows as their government shoulders payment for booths and other expo-related expenses. 

“Hopefully with the budget, we can sponsor more SMEs (small and medium enterprises), even major companies who have the capacity to supply,” Lopez said.