THE Department of Trade and Industry (DTI) said the competitiveness of Philippine exports will depend on whether industry achieves appropriate scale while remaining sustainable.
Trade Secretary Alfredo E. Pascual said at an event organized by the Center for International Trade Expositions and Missions (CITEM) in Taguig City last week that apart from achieving scale, industry should also pursue higher value-added export activities.
“Industry development requires a shift in our mindset, from simply promoting existing profitable products and services to promoting and highlighting our capabilities. Industry development is the best way to deliver exporting breakthroughs,” Mr. Pascual said.
Mr. Pascual said that the country seeks to grab a bigger share of the global market, adding that the DTI will seek to expand the market reach of Philippine-made products.
He said the DTI will lead efforts to raise quality levels to make Philippine products more competitive globally.
“The DTI is devoted to creating an inclusive, sustainable, and resilient industrial policy, which contributes to building a competitive economy. This includes nurturing micro, small, and medium enterprises (MSMEs) to develop world-class products and giving them a spotlight on the international market,” Mr. Pascual said.
The Philippine Statistics Authority reported in January that export earnings rose 5.6% to $78.84 billion in 2022.
CITEM is the DTI’s export promotion arm with a mandate of marketing globally competitive small and medium enterprises, exporters, designers, and manufacturers. — Revin Mikhael D. Ochave