President Rodrigo Duterte has approved the new five year development plan to boost the country’s export growth and facilitate the flow of trade.
The Philippine Export Development Plan (PEDP) 2018-2022, prepared by the Department of Trade and Industry and Export Development Council (EDC), was approved by Duterte through Memorandum Circular (MC) No. 62 series of 2019, signed on June 26.
Within 60 days after MC 62’s effectivity, which was on June 26, all concerned government agencies shall submit to EDC and the Office of the President an inventory of relevant policies, programs, and action plans aligned with the strategies under the new PEDP.
This is the first PEDP with a period of five years, instead of the usual three years, as it has been aligned with the government’s Philippine Development Plan (PDP) 2017-2022, which calls for boosting services exports, increasing the competitiveness of Philippine exports, and exploring new markets for Philippine products.
PEDP 2018-2022 aims to increase export revenues of both goods and services to US$122-130 billion by 2022, from $74 billion in 2016.
“The task for PEDP 2018-2022 is determining the feasibility of the targets that would synchronize the PEDP with the six-year program of the Duterte administration (the PEDP 2018-22 five-year timetable is to catch up with the PDP),” the PEDP stated.
“The export targets are seen to significantly contribute to short to medium term development objectives in the PDP and in ensuring they are integral to the long-term vision of the country as Ambisyon 2040,” it added, referring to the National Economic and Development Authority’s long-term development plan.
According to EDC, the plan “will embody the country’s export thrusts, strategies, programs and projects and shall be jointly implemented by the government, and export stakeholders.”
Under the plan, the government has adopted three strategies to achieve its export targets, including the improvement of the overall climate for export development by removing regulatory impediments, enhancing trade facilitation, and fostering supply chain linkages.
Another is to exploit existing and prospective opportunities from trading arrangements, while the third involves development of comprehensive packages to promote select products and services.
