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Business

New Philippine Export Development Plan ready by next month

Catherine Talavera - The Philippine Star

MANILA, Philippines — A Philippine Export Development Plan (PEDP) is targeted to be launched in early December at the National Export Congress (NEC), according to the Philippine Exporters Confederation Inc. (Philexport).

In a statement, Philexport said the PEDP for 2023 to 2028 is targeted to be launched at the NEC on Dec. 7, which is the culminating activity of the yearly celebration of the National Exporters’ Week (NEW).

Economist and Brain Trust Inc. chairman Cielito Habito, leader of the PEDP planning facilitation team, will present the new export plan during this year’s NEC.

“The new PEDP has an overarching goal of transforming the Philippines from an exporter of commodities and intermediate goods to an exporter of high-value products and services,” Philexport said.

“It is envisioned to take an industry development-centric approach to boost export competitiveness by attracting export-oriented investments in innovation-driven sectors to increase product and service diversification,”it said.

Philexport said EDC Council, which, based on the Export Development Act is chaired by the President of the Philippines, is scheduled to usher the signing of the statement of commitment to implement the PEDP 2023 to 2028 during the NEC.

The group earlier said  it was optimistic  it would achieve its five-year growth target,  banking on the aggressiveness of the next PEDP.

Philexport president Sergio Ortiz Luis Jr. expressed optimism that despite the many challenges, the export industry can achieve its growth target of nearly $120 billion to $130 billion from exports of goods and services in the next five years.

“The next Philippine Export Development Plan is more aggressive, highlighting technology and stronger collaborations towards innovation, skills upgrading, and integration to help counter the negative impacts of issues such as red tape, supply chain disruptions, increasing business costs, climate change, and other challenges,” he said.

Ortiz-Luis earlier said they were optimistic about the new PEDP.

“It’s more than just renewing commitment to export development, it’s about being bold and aggressive while recognizing persistent areas for improvements where we must have the determination to solve permanently,” said Ortiz-Luis Jr., who also serves as the vice chairman of the EDC.

In October, Philexport shared that among the bold and innovative solutions proposed in the draft PEDP include the lifting of land ownership ceilings for commercial scale agribusiness and establishing a Bureau of Agri-Industrial Cooperatives Development in the Department of Agriculture.

Also proposed is the amendment of the charters and regulatory frameworks of the Land Bank of the Philippines, Development Bank of the Philippines and the Small Business Corp. to allow them leeway to fulfill their mandates.

Philexport earlier said the ratification of the Regional Comprehensive Economic Partnership agreement (RCEP) is also a key recommendation in the plan.

The RCEP is a free trade agreement among the 15 Asia-Pacific nations, including the Philippines, creating the largest trading block representing nearly a third of the world’s gross domestic product.

Philexport said the draft PEDP also highlights private sector opportunities to hone Filipino creative capabilities and build global brands from the unique features and benefits of the Filipino products and services.

Meanwhile, as part of efforts to capacitate the growth of the exports industry, Philexport has partnered with the Export Marketing Bureau of the Department of Trade and Industry and the EDC to hold the NEW activities on Dec. 1 to 7.

“The thematic discussions and activities during the 2022 NEW aim to capacitate Philippine exporters, particularly MSMEs, as they go through their exporting journey from developing their products and services, creating their marketing and promotion strategies, and delivering to their customers,” DTI-Trade Promotions Group Assistant Secretary Glenn Peñaranda said.

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