The Philippines’ Department of Trade and Industry (DTI) announced that it will promote information technology-business process management (IT-BPM), electronics, creative industries, food and beverage, and halal as priority sectors for exports this year due to global demand.
Abdulgani Macatoman, trade undersecretary, said the active promotion of the priority sectors is part of the department’s goal to increase the country’s exports. Macatoman explained that the department follows the targets of the Philippine Export Development Plan (PEDP) with strong support and commitment across key industries. PEDP aims to hit USD122bn to USD130.8bn in total exports, covering both goods and services, by 2022. The Philippines’ total exports were up 3.7% year-on-year to USD70.4bn for the January-September period in 2019, with services exports, driven by the IT-BPM and travel services sectors, rising 7.7% year-on-year to USD30.6bn as of the end of September.
DTI said it will conduct outbound business matching missions with the private sector to promote the said priority sectors, and work to boost the overall climate for export development, ease of doing business, and the further utilization of preferential trade agreements.