President Benigno Aquino III has approved the Philippine Export Development Plan (PEDP) for 2015 to 2017 that sets exports growth target of 8 to 9% to reach the $100-billion goal this year.
Aquino signed Memorandum Circular No. 9 on Feb. 4 pursuant to the provisions of Article II of Republic Act No. 7844, otherwise known as the Export Development Act of 1994.
The President directed concerned government agencies to collectively work and review all relevant policies to facilitate exports and eliminate those that hamper its free flow.
The Export Development Council (EDC) shall oversee the implementation of the PEDP and coordinate the formulation and implementation of policy reforms and promotion strategies.
Philippine Exporters Confederation Inc. president Sergio Ortiz-Luis Jr. welcomed the approval of the PEDP by Aquino, adding “it is a formal signal for government to facilitate export growth”
To achieve this year’s export goals, PEDP identified key strategies to boost the competitiveness of the sector. These are designing comprehensive packages of support for selected emerging and key export sectors; removing unnecessary regulatory impediments to the movement of goods and delivery of services; raising the productivity and competitiveness of Philippine enterprises; and upgrading the quality and standard of export and improve exporters’ access to finance.
One of the most important components of the package of support for selected sectors is the global value chain analysis as this would assist the export sector in identifying product and market opportunities.
Further, the PEDP has identified exploiting opportunities presented by regional and preferential trading arrangements to expand market access within existing trade partners, exploring new trade partners and developing new export products; and enhancing the innovative capacity of the export sector through an efficient system of national innovation boosting competitiveness.
The plan, one of the most important elements of the International Trade Strategy, forms part of the Philippine Development Plan. – Philexport News and Features
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