Philippines export sector shifts aim to ASEAN market

CEBU, Philippines — To counter the continuous weakening of exports, which is also pulled down by the ongoing United States and China trade war, the Philippines is turning its attention to the ASEAN market.

The Department of Trade and Industry (DTI) Bureau of International Trade Relations said that the Philippines is strengthening its cooperation with ASEAN neighbors stressing that even if they are our competitors, they are also our partners.

“What we are doing now at the DTI is that we are trying to find different markets for our products. We are not just concentrating on the US and China," said Marie Sherylyn Aquia, chief of Multilateral Relations Division at the DTI Bureau of International Trade Relations.

“Europe is also part of the strategy,” Aquia said adding that they have just concluded negotiations with the European Free Trade Association (EFTA), which include the countries of Iceland, Liechtenstein, Norway, and Switzerland.

The Philippines is also trying to complete the negotiations on the RCEP (Regional Comprehensive Economic Partnership). Once concluded, the RCEP agreement will be the world's largest free trade deal.

It is a deal between Asean countries and the bloc's six free trade agreement (FTA) partners -- China, Japan, South Korea, India, Australia, and New Zealand.

According to the Philippine Institute for Development Studies (PIDS), exports of agricultural products present opportunities, as well as boost Filipino micro, small and medium enterprises (MSMEs).

This is also a big opportunity for micro, small and medium enterprises to break through in foreign markets, PIDS suggested.

MSMEs might be able to make it big in some food products.