Thursday, April 28, 2005
Export of services to get a big push
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The export of services has been included among those that will get a big push in the 2005-2007 export development plan to hit the government target of $50 billion in export earnings by the end of next year.
The targetted jump in exports for two years proceeded from commodity exports that totalled $3.2 billion in the same year.
To meet the targets, the products and services identified as the main contributors to the country’s dollar earnings were targeted to grow by at least 10 percent a year in 2005 and 2006.
It is the first time since the private sector and the government started drawing up three-year, rolling export plans in 1994 that services got included in export promotions and development. Previous plans only focused on the export of goods.
The new export plan has adopted the rally cry: “Beat the odds. Go export!”
To be nursed to earn more dollars under the plan among the country’s service exports are: ICT services, healthcare, tourism and construction services, said Export Development Council (EDC) deputy executive director Emma Mijares.
Together with the promotion of service, an aggressive export promotion offensive has been embarked, particularly focused on the Asian market, the EDC executive said.
The refocusing of export promotion in the Asian region was driven by a major shift in the market for Philippine goods and services to its neighbors in the past three years.
By the end of last year, Asian countries have become the Philippines biggest partner in its international trade.
Data presented during the conference showed that Japan had replaced the United States as the Philippines top trading partner, buying 20.2 percent of all the goods the country exported.
Members of the ASEAN free trade area came in close second, buying 18.2 percent of all Philippine exports.
The US slid in its share of imports from the Philippines, accounting for 17 percent of goods sold for the year just past.
But China came in close fourth largest importer of Philippine products with a share of 14.5 percent.
The whole of Europe bought only 16.2 percent while the rest of the world accounted for the remaining 16 percent.
The export offensive in the East will be fuelled with the country taking full advantage of the free trade agreement it signed with Japan last year, another between the AFTA members and China and other special trade arrangements with other Asian economies like Taiwan which are getting forged.
Edu H. Lopez,April 10, 2005, Manila Bulletin
Proceed to Best of Pinoys
The targetted jump in exports for two years proceeded from commodity exports that totalled $3.2 billion in the same year.
To meet the targets, the products and services identified as the main contributors to the country’s dollar earnings were targeted to grow by at least 10 percent a year in 2005 and 2006.
It is the first time since the private sector and the government started drawing up three-year, rolling export plans in 1994 that services got included in export promotions and development. Previous plans only focused on the export of goods.
The new export plan has adopted the rally cry: “Beat the odds. Go export!”
To be nursed to earn more dollars under the plan among the country’s service exports are: ICT services, healthcare, tourism and construction services, said Export Development Council (EDC) deputy executive director Emma Mijares.
Together with the promotion of service, an aggressive export promotion offensive has been embarked, particularly focused on the Asian market, the EDC executive said.
The refocusing of export promotion in the Asian region was driven by a major shift in the market for Philippine goods and services to its neighbors in the past three years.
By the end of last year, Asian countries have become the Philippines biggest partner in its international trade.
Data presented during the conference showed that Japan had replaced the United States as the Philippines top trading partner, buying 20.2 percent of all the goods the country exported.
Members of the ASEAN free trade area came in close second, buying 18.2 percent of all Philippine exports.
The US slid in its share of imports from the Philippines, accounting for 17 percent of goods sold for the year just past.
But China came in close fourth largest importer of Philippine products with a share of 14.5 percent.
The whole of Europe bought only 16.2 percent while the rest of the world accounted for the remaining 16 percent.
The export offensive in the East will be fuelled with the country taking full advantage of the free trade agreement it signed with Japan last year, another between the AFTA members and China and other special trade arrangements with other Asian economies like Taiwan which are getting forged.
Edu H. Lopez,April 10, 2005, Manila Bulletin
Proceed to Best of Pinoys
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