by admin | Sep 20, 2017 | Business, DTI Updates, Negosyo Center Updates
DTI-CITEM targets $62M export sales in world’s biggest food fair
Coconut oil is one of the products featured in the FoodPHILIPPINES pavilion in Anuga on October 7-11. It is the third most shipped product to EU countries in 2016, with total export sales of $551.39 million
The export promotion arm of the Department of Trade and Industry (DTI) is set to further expand the trade relationship between the Philippines and the European Union (EU) as it leads a delegation of food exporters in Anuga on October 7-11 at the Koelnmesse in Cologne, Germany.
The Center for International Trade and Expositions and Missions (CITEM) is set to feature the country’s export-competitive products from 19 food companies under the FoodPHILIPPINES industry brand.
CITEM ED Clayton Tugonon
“The Philippines’ participation in Anuga is part of DTI’s overarching efforts to step up the export drive in EU member states and take advantage of the Philippines’ zero tariff privileges under the EU’s current Generalized System of Preferences Plus or GSP+ scheme,” said CITEM Executive Director Clayton Tugonon.
Known as the world’s largest and most important food and beverage fair, Anuga presents a combination of 10 specialized trade shows under one roof, showcasing the diverse product selection in the global food industry. This year, around 160,000 visitors are expected to join the five-day event to check out the latest and most innovative products from around 7,200 global exhibitors.
In 2015, 35 Philippine companies netted $67.7 million export sales in Anuga. For 2017, DTI-CITEM is targeting $62 million.
“Despite coming with a smaller delegation, we are not pulling any stops with our high export target. We have carefully selected 19 food companies that are primed for the European market, each capable of showcasing the best of what the Philippines have to offer,” said Tugonon.
Aside from food tasting activities, the Philippine delegation will also participate in business-matching activities during the event.
The EU is ranked as the Philippines’ 4th largest trading partner, 3rd largest import source, and 4th largest export market.
In 2016, the Philippines’ external trade in goods with the EU states totaled to $13.713 billion or 9.7 percent share of the country’s total trade, based on data of Philippine Statistics Authority (PSA). Exports to the EU reached $6.970 billion or 12.1 percent of the total export receipts, while imports were valued at $6.743 billion or 8 percent share to total import, resulting to a balance of trade in goods (BOT-G) surplus of $227.74 million.
Among the EU-member countries, Germany is the Philippines’ top trading partner with a total trade of $4.357 billion or 31.8 percent of EU’s total trade. Revenue from export to Germany amounted to $2.329 billion while payments for imports were worth $2.028 billion or a trade surplus of $301.32 million
Within the EU, ninety percent of EU-Philippine trade is concentrated among eight EU member-states—Germany, France, the Netherlands, the United Kingdom, Italy, Spain, Belgium, and Denmark.
As of now, the Philippines is enjoying a special trade arrangement and incentives with European countries as one of the 30 countries listed under EU’s Generalized Scheme of Preferences (GSP). Under the EU GSP, developing countries can export goods with reduced tariffs entering the EU to stimulate economic growth and job creation in their economies. The Philippines avail itself of the zero preferential duties on 6,274 products going to EU states.
FoodPHILIPPINES is the industry brand for the food sector which unifies the overseas promotional efforts of the Center for International Trade Expositions and Missions (CITEM), the export promotions arm of the Philippine Department of Trade and Industry (DTI). Under this industry brand, the Philippines is positioned as Asia’s most exciting sourcing destination for food exports, being one of the world’s top exporters of tropical fruits and marine products.
by admin | Sep 20, 2017 | ASEAN agenda, Headlines
Following the Philippine hosting of the 5th Ministerial Meeting on the Regional Comprehensive Economic Partnership (RCEP) agreement on 10 September, as part of the 49th ASEAN Economic Ministers’ (AEM) Meeting and Related Meetings, ASEAN economic ministers expressed strong commitment to take a more pragmatic and realistic approach to conclude the 16-party agreement.
The Department of Trade and Industry (DTI), the lead agency for the AEM Meetings reported that as part of the approach to conclude RCEP, ASEAN economic ministers instructed negotiating leads and teams to recalibrate long-held negotiating stances and positions, to arrive at an acceptable ‘landing zone’, and not hinder negotiation progress.
Top economic officials of the 10 ASEAN Member States and ASEAN FTA Partners— Australia, China, India, Japan, Korea, and New Zealand—discussed the way forward for the earnest conclusion of RCEP negotiations. The recent RCEP ministerial meeting enabled clear takeaways as Ministers mapped out the way forward in further progressing market access and text based negotiations on the core negotiating areas embodied in RCEP.
With this guidance received from the ministers, the Incheon Round in October 2017 will be deemed important in defining the future course of the negotiations and steer it to a close. Two chapters have been concluded thus far, including the Chapters on Economic and Technical Cooperation, and Small and Medium Enterprises that underscore RCEP’s development dimension.
“The RCEP has entered a critical phase and, as in any negotiations there are familiar challenges arising from multiple parties with differing stages of development and varying interests,” said DTI Secretary and 2017 AEM Chair Ramon Lopez.
ASEAN has exhibited its strong leadership in managing the RCEP process. The “RCEP Key Elements for Significant Outcomes by End of 2017” welcomed by the Ministers provides the emerging architecture of the RCEP, which will define the FTA’s final shape and form.
The Philippine trade chief added that the country recognizes the difficulties in reconciling differing and even opposing interests and views in an effort to achieve balance between the interests of the developed, developing and least developed economies and addressing these in the most equitable manner.
“More trade and investment as a result of RCEP will engender a more competitive market, generate jobs, and inject capital. These positive outcomes will contribute to the Philippine economic development goals,” added Sec. Lopez.
Given the expectation that RCEP could provide fresh energy to global free trade and open markets, all eyes are on RCEP and how it will set the example for the pursuit of free and open trade.
RCEP represents integrated market of more than three billion people with a combined GDP of US$ 22.4 trillion and one of the world’s largest free trade area accounting for 28.3% of global goods imports and 29.7% of global goods exports, 27.8% of global inward foreign direct investment (FDI) stocks and 24.6% of global outward FDI stocks, and 17.2% of global services imports and 25.4% of global services exports.
Against the backdrop of growing protectionism and anti-globalization sentiments across the globe, ASEAN remains resilient and dynamic in forging ahead with regional economic integration that is a key facet of the ASEAN Economic Community (AEC), demonstrating both the centrality and leadership of ASEAN.
“RCEP is seen as the next logical step in ASEAN’s regional integration, by bringing it and its partner economies under a single, ambitious, high quality trade agreement, which would further reinforce the Southeast Asia region as the economic center of gravity,” said Sec. Lopez.
“The importance of RCEP to the respective economies of each ASEAN Member State cannot be over-emphasized, not just in terms of the benefits that are expected to accrue to our individual economies but also on our collective posturing as an open and outward-oriented regional trade bloc,” concluded Sec. Lopez.
by admin | Sep 19, 2017 | DTI Updates, Features, National News
Department of Trade and Industry (DTI) through its attached agency, Center for International Trade Expositions and Missions (CITEM) in coordination with the Philippine Trade and Investment Center in Paris (PTIC-Paris), recently participated at the Maison et Objet, the premier and largest French trade fair for interior design held on 8-12 September 2017 in Paris, France.
“The presence of DESIGN PHILIPPINES at this year’s Maison et Objet is a testament of DTI’s commitment to continuously support and provide global platforms for Filipino exporters and designers,” said DTI Undersecretary for Trade and Investments Promotion Group Nora K. Terrado.
As the country’s third participation in one of the world’s biggest lifestyle event which attracts over 75,000 visitors worldwide including interior designers, decorators, architects, hotel directors, art directors, stylists and trendsetters, showcased DesignPhilippines which highlighted and represented the country’s creative sensibilities.
Among the world-class Filipino companies showcased at the DesignPhilippines are: Agsam Fashion Fern, Beatriz, Catalina Embroideries, Finali, Kit Silver Jewellery, Megabijoux, Nature’s Legacy, and Weave Manila.
“We strive to open doors for our emerging designers and exporters to access global partners who frequent the world’s most important international trade shows such as the Maison et Objet which is held twice a year in Paris. This is key in enabling them to meet new trade buyers and be exposed to overseas markets,” Terrado added.
Led by DTI’s CITEM, DesignPHILIPPINES is a branding initiative that positions the Philippines as a sourcing destination for finely crafted products for the world market.
“We see the vital role that the government plays when it comes to accessing markets for our local exporters. As we participate in various international trade exhibits, we also seek the support of the private sector and businesses to collaborate with us in joining international trade fairs where they could potentially meet new buyers as well as promote Philippine design to the rest of the world,” emphasized Terrado.
In photo: Philippine Ambassador to France, HE Ma. Theresa P. Lazaro (eighth from left) join Philippine exporters from the home, lifestyle and fashion industries – Agsam Fashion Fern, Beatriz, Catalina Embroideries, Finali, Kit Silver Jewellery, Megabijoux, Nature’s Legacy, Weave Manila — who were part of the country pavilion at the Maison et Objet held in Paris, France on 8-12 September 2017. Joining them are Froilan Pamintuan, Commercial Attache of the Philippine Trade and Investment (second from right); Rapunzel Acop of the Philippine Embassy in Paris (seventh from left); Art Dimaano of the Center for International Trade Expositions and Missions or CITEM (ninth from left); Chiqui Veneracion of Maison et Objet (sixth from left) and Eduardo Francisco of PTIC-Paris (leftmos
by admin | Sep 19, 2017 | DTI Updates, Headlines
More collaborative initiatives are expected from the Philippines (PH) and the Republic of Korea (ROK) as discussion on trade and investments progresses, with focus on strengthening bilateral cooperation on agriculture and manufacturing industries.
In the recent bilateral meeting between Department of Trade and Industry (DTI) Secretary Ramon Lopez and Minister for Trade, Industry and Energy Kim Jyun Chong on 8 September 2017 at the sidelines of the Philippine hosting of the 49th ASEAN Economic Ministers’ (AEM) Meeting and Related Meetings in Pasay City, both sides considered expanding cooperation on tropical fruits and meat products.
With the current initiatives to improve commitments under the ASEAN-Korea Trade in Goods Agreement, ROK Trade Minister Kim indicated openness to look into PH request for improved access for Philippine bananas, mangoes, and pineapples to the Korean market. Both sides also agreed to tap respective agriculture officials to expedite the ongoing accreditation process for other Philippine agricultural products namely, durian, mangosteen, avocado, and okra. Meanwhile, Sec. Lopez favorably considered market access for Korean strawberries and heat-treated pork and chicken products.
In promoting inclusive growth and strengthening the PH’s micro, small, and medium enterprises (MSMEs), PH and ROK initiated a feasibility study involving the Philippine Mold and Die Center. Such collaboration highlighted the potential of the mold and die industry, which is considered as the mother of manufacturing industry and a priority sector of PH development. PH expressed confidence that the implementation of said project would support the government in providing better access to expensive mold and die machineries for entrepreneurs.
ROK also expressed its support for the PH’s electric vehicle industry and its benefits to industrial development. In line with this, PH committed to provide usual incentives and highly encouraged Korean electric vehicle manufacturers to invest in the country and ride on the PH’s growth story.
ROK also expressed its hope for the conclusion of the Regional Comprehensive Economic Partnership (RCEP) involving ASEAN and its key trade partners.
In the course of discussion with his Korean counterpart, Sec. Lopez mentioned PH’s intention to further liberalize the Foreign Investment Negative List (FINL) with utmost attention on foreign equity requirements and terms on public utilities.
by admin | Sep 19, 2017 | Business, National News
Highlights areas of bilateral cooperation with Russians
VLADIVOSTOK—Following the June visit of President Rodrigo Duterte in Russia, the Philippines (PH) successfully concluded a trade and investment scoping mission in Russia, as well as actively participated in the Eastern Economic Forum (EEF) on 6-7 September.
“During this mission, we promoted PH trade and investment opportunities to Russian importers and buyers of food products, government representatives of the Primorsky Territory, officials and members of the Primorsky Chamber of Commerce & Industry, officials of the commercial port of Vladivostok, and the Far Eastern Development Corporation,” said Trade and Industry Undersecretary Rowel Barba, who led the PH delegation to Vladivostok.
Government and private sector delegates from the Department of Agriculture (DA), the Cagayan Economic Zone Authority (CEZA), the Philippine Economic Zone Authority (PEZA), the Philippine Chamber of Commerce & Industry’s Philippines-Russia Business Council (PRBC), the Philippine-Russian Business Assembly, Inc. (PRBA), and the Mindanao Banana Farmers & Exporters Association (MBFEA) also participated in the mission.
Meanwhile, USec. Barba also served as panel speaker during the EEF’s Russia-ASEAN Dialogue, where he underscored the latest developments and business opportunities in PH and ASEAN. He highlighted the MOUs signed during President Duterte’s visit to Russia. PRBA’s Armi Lopez Garcia and PRBC’s Roberto De Venecia were also resource speakers during the session and together with USec. Barba, they promoted the country and the vast economic opportunities and complementation between both countries.
Philippine Ambassador to Russia Carlos Sorreta, meanwhile, was a panelist on the topic “Russia-ASEAN 2017: New Horizons for Mutual Cooperation.”
Parallel to the PH participation to the EEF was the PH hosting of the 49th ASEAN Economic Ministers’ Meeting and Related Meetings on 4-11 September, with the Department of Trade and Industry (DTI) taking the lead.
“The key to unlocking the doorway of opportunity is by demystifying the landscape of ASEAN-Russian trade relationship. This means generating more trade opportunities between both sides, as well as creating trust and confidence in each other in the course of doing business,” said USec. Barba.
PH also encouraged private sector members to do business in PH given that among the ASEAN countries, PH is consistently among the fastest growing economies.
Also at the EEF, PRBA signed a cooperation agreement with Roscongress Foundation to enhance PH-Russia cooperation, arranging effective communications between the expert communities, business and political groups of both sides. Said agreement includes exchange of delegations and mutual expert support in organising high profile events, as well as expansion of contacts between the two countries’ business communities that will contribute to the development of trade and economic relations.
“This partnership between the two organisations will be an important platform to increase trade and investment between PH and Russia,” said USec. Barba. PH has a bilateral trade value of US$ 226.25M in 2016 with Russia, making Russia its 33rd top trading partner.
According to him, the mission complements the administration’s thrust to increase bilateral trade levels with non-traditional trading partners, including Russia.
“We are prepared to supply Russia with high-quality export products, including food and agricultural products, garments, personal care products, gifts and home-style products, electronic products and semiconductors, and automotive parts and components, among many others,” he said.
Aside from agricultural products, such as fishery products and fresh fruits, PH also offers investment potential in the sectors of infrastructure and public-private partnership (PPP) projects, as PH pushes its ‘Build Build Build’ Program.
“By being a partner in developing Philippine industries, especially in the area of mineral processing and supply of iron and steel, Russian investors can also take advantage of supplying the primordial inputs to our infrastructure development program. They can also be a source of strategic imports that support our local priority sectors,” USec. Barba added.
Russian business can likewise consider opportunities in oil and gas, electronics, aerospace, energy, IT-BPM, agriculture, tourism and retail trade in PH.
