by admin | Jul 25, 2017 | DTI Updates, National News
In its effort to increase trade and investment opportunities from various markets, the Philippine Department of Trade and Industry (DTI), represented by the Philippine Trade and Investment Center (PTIC) in Toronto, is set to hold a breakfast forum dubbed as “Trade and Investment Opportunities in the Philippines” on 26 July at the Pinnacle Hotel in Vancouver, British Columbia.
The forum is made possible with the support and cooperation of the Philippine Consulate General in Vancouver. Hon. Consul General Neil Frank Ferrer is expected to open the forum while Philippine Ambassador to Canada H.E. Petronila P. Garcia will serve as a keynote speaker. Special guests from various Canadian sectors led by Aquilini Renewable Energy Ltd. and Corinthian Distributors Ltd. will share their experience in doing business in the Philippines.
“The Philippines would like to see more investments from Canada given the vast potentials in manufacturing and services in the areas of IT-BPM, specifically game development and animation, agri-based industries, and aerospace”, according to Senior Trade Commissioner Maria Roseni Alvero. Alvero is also set to present trade and investment opportunities in the Philippines during the event.
“We also aim to double our exports to Canada particularly of food products and IT-BPM services in the next few years,” added Alvero.
The five-day trade and investment outreach to Western Canada aims to introduce the services of the recently opened DTI Office, also known as the Philippine Consulate General (Toronto) Trade Section. It opened its new location in Downtown Toronto last 1 July 2017. The office currently caters to all provinces and territories of Canada. Similar outreach programs are scheduled for the other regions in Canada.
by admin | Jul 20, 2017 | National News
PASAY—With the adoption of the Manila Call to Action (MCA) for ASEAN MSMEs, all 10 ASEAN Governments, including the Philippines, are called to pursue affirmative actions for MSME development.
Adopted at the ASEAN MSME Development Summit on 14 July, the MCA strongly urges all ASEAN Member States (AMS) to dedicate fund to power programs and initiatives on MSME development.
“True to its name, the document is a call to action. We rally to purse 7Ms for MSME development and to translate our aspirations into deliberate actions at the regional, national and local levels,” said ASEAN Economic Ministers chairman and Trade Secretary Ramon Lopez.
The trade chief refers to the 7Ms, namely, mindset, mastery, mentoring, money, machines, markets and models. The 7Ms is the holistic MSME development strategy proposed by the Philippines to drive shared prosperity in the region.
“What we are discussing in our local engagements is now receiving regional attention. This is only indicative of the regional applicability of our grassroots efforts to help MSMEs move up in life,” he added.
The MCA has been concluded with the collective efforts of the private sector, civil society and government from across ASEAN, bringing together knowledge, perspectives and experience in growing MSMEs.
According to Sec. Lopez, MSMEs must be full participants and beneficiaries of the economic dynamism that the current ASEAN integration brings. To this end, MSMEs’ role and contribution in attaining inclusive, people-centered ASEAN must be further strengthened.
Said outcome document has subsections that purposely pertain to the 7Ms.
On mindset, mastery and mentoring, the MCA calls on integrating entrepreneurship values and skills in the educational system spanning all levels. A convergence mindset in all government entities that recognizes the centrality of MSME development is envisioned.
“An all-of-government approach for MSME development is needed across all ASEAN Member States,” Sec. Lopez said.
On money access, the MCA reiterates the importance of setting up alternative financial instruments to better serve MSMEs’ financing needs. In this regard, an appropriate regulatory framework to govern institutions shall be created. Financial literacy and management for MSMEs should also be intensified.
On machines, the MCA stresses the importance of establishing research and development centers, improving the government’s assistance programs and providing more platforms and opportunities for knowledge sharing on non-proprietary machines and technologies.
A unified ASEAN digital marketplace is aspired to reach MSMEs beyond national borders. To boost market access, the MCA also calls to ensure quality compliance to sustain global competitiveness of ASEAN products and services, as well as to widen linkages of MSMEs to the regional value chains.
“We advocate for the promotion of social enterprises, highlighting the community-based approaches to enterprise development, said Sec. Lopez, adding that the inception of an ASEAN MSME starter kit map that compiles different business models for MSMEs is crucial.
“We should not wait for growth to trickle down. The MCA is set to pave the way towards region-wide prosperity that is powered by our MSMEs, thus spurring growth from the bottom of the pyramid,” he concluded.
by admin | Jul 19, 2017 | DTI Updates, National News
MAKATI—Inclusive business model is not just about helping small players, as big companies also benefit from partnerships that this model creates, the country’s trade chief said.
Speaking at the League of Corporate Foundations’ Corporate Social Responsibility (CSR) Expo on 19 July, Department of Trade and Industry (DTI) Secretary Ramon Lopez called on companies to continuously innovate even on its processes to adopt an inclusive business (IB) model for its CSR initiatives.
“If CSR is about the practice of ‘doing good is good business,’ the government is about generating business to do good,” said Sec. Lopez.
He added that that the administration of President Rodrigo Duterte is sincere in helping the poor and those who have less in life by providing more opportunities for jobs and entrepreneurship, and inclusive business is a viable option for this.
According to him, while private and public sectors have different approaches to practice inclusivity, the synergy between the two should push the shared goal of improving the quality of life of every Filipino, thus making a symbiotic business model.
“We encourage the corporate sector to integrate the IB model in their respective CSRs. With the big brother-small brother connection, the government is now developing a simplified formula to properly incentivize companies that integrate small players in their value chains,” he said.
Sec. Lopez mentioned that the government’s focus in implementing this initiative is on the micro, small and medium enterprises (MSMEs), adding that programs and initiatives that aim at developing MSMEs can only mean greater economic success for the country.
“With the creation of new business ventures and the push for innovation in existing MSMEs as critical parts of an inclusive innovation process, we can now focus on strategies to promote innovation-led entrepreneurship,” he added.
The trade chief said that by aligning inclusive innovation with the overall goal of inclusive economic growth, the impact can reach the marginalized sectors, where business process innovations have the potential to reduce inequality in the country.
He added that in ushering an entrepreneurial revolution, there is a need to generate smarter, idea-based entrepreneurs, who are value-adding and carry ideas with unique selling propositions.
Sec. Lopez shared with the corporate foundations current initiatives under the Dutertenomics framework to widen the gains of development, address income inequality and alleviate poverty, including the Build Build Build infrastructure program that promotes more regional and rural growth centers. He also mentioned DTI platform to develop MSMEs, as well as the outcomes of the recently concluded MSME Development Summit.
“Big companies integrating small companies in their value chains will make the CSR more inclusive and sustainable,” he concluded.
by admin | Jul 19, 2017 | National News
Philippine micro, small and medium-sized enterprises (MSMEs) who want to expand their market overseas, especially in highly-developed markets such as Switzerland, the European Union (EU) and the United States (US), were urged to avail free legal service provided by international trade lawyers.
Philippine Trade and Investments Center (PTIC) – Geneva Commercial Attache Magnolia M. Uy cited international law firm Sidley Austin LLP’s Emerging Enterprises Pro Bono Program to help poor, rural and disadvantaged communities by providing free legal support to MSMEs and market-focused non-government organizations (NGOs). Through technical guidance and hand-holding, MSMEs can benefit from, among others, legal trade advice on market access requirements, as well as better understanding intellectual property rights and patents for innovative ideas.
For many MSMEs around the world, legal barriers are among the key hindrances to trade. Since the program’s introduction in 2012, however, over 120 MSMEs from more than 30 countries have benefitted from timely and relevant legal trade advice. These include, among others, an Indonesian chocolate producer overcoming challenges in the EU market because its formula has to meet EU’s minimum cocoa requirement; shea producers who are unable to sell products containing shea to Indian buyers because of regulatory restrictions; and an African clean cook stove enterprise entangled in an intellectual property dispute with a Chinese company.
Further to this, the program works toward enabling more MSMEs in the developing countries to participate in e-commerce by helping them address constraints. E-commerce has always been touted as a key enabler for MSMEs worldwide to participate in global trade. However, it entails legal requirements in order to be realized. Among top considerations that MSMEs need to address are: effective privacy policy that protects producers and buyers during the online transaction; online business transactions that must be carried out on the basis of enforceable and internationally recognized buyer-seller contracts; and intellectual and market access requirements.
Eligible Philippine MSMEs interested in the program were urged to avail of the pro bono support through the assistance of Philippine Trade and Investment Center (PTIC) in Geneva.
by admin | Jul 13, 2017 | National News
HONG KONG—A free trade agreement between ASEAN and Hong Kong will reinforce the latter’s role as the premier gateway into and out of Mainland China, boosting trade and investment across Asia and the world including ASEAN.
A day after announcing the signing of the ASEAN-Hong Kong Free Trade Agreement (AHKFTA) in November in Manila, ASEAN Economic Ministers chairman and Philippine Trade Secretary Ramon Lopez discussed the elements covered by said agreement during the ASEAN-Hong Kong Business Conference on 12 July.
“We are hopeful for greater trade and business opportunities with AHKFTA in place, reinforcing Hong Kong as the key gateway to China,” said Sec. Lopez.
Aside from the FTA, also for signing in November at the sidelines of the 31st ASEAN Summit is an investment agreement between both sides.
The AHKFTA covers elements related to trade in goods and related issues such as tariffs, rules of origin, non-tariff measures, customs procedures and trade facilitation, trade remedies, technical barriers to trade, and sanitary and phytosanitary measures.
It also touches on trade in services; investment; intellectual property rights; dispute settlement; horizontal and institutional issues; economic and technical cooperation; and other areas of interest to be mutually agreed upon.
In 2015, Hong Kong was ASEAN’s 7th largest trading partner. While ASEAN was Hong Kong’s 2nd largest trading partner, after China for the same year.
Total merchandise trade between ASEAN and Hong Kong amounted to HKD 823.3B or US$ 106.1B. This amount represents 10.8% of Hong Kong’s global merchandise trade in 2015, registering an annual average growth rate of 3.2% per annum between 2011 and 2015.
To date, there are more than 500 ASEAN companies in Hong Kong, including regional headquarters, regional offices and local offices. They account for 6.6% of the total number of foreign companies in Hong Kong.
In this regard, the trade chief encouraged businessmen from ASEAN Member States (AMS) and Hong Kong to continue partnering with ASEAN, particularly with the Philippines, which currently experiences economic resurgence with strong macroeconomic fundamentals and high investors’ confidence.
With the instrument in place, the Filipino business community can expect broader trade engagements with their Hong Kong counterparts.
In 2016, Hong Kong was the Philippines’ 5th trading partner, 3rd top export market, and 10th import supplier with total bilateral trade valued at US$9.11B in 2016. In terms of investments, Hong Kong ranked as the 15th source of IPA (investment promotion agencies)-approved investments in the Philippines.
“Hong Kong is a viable target market for Philippine consumer goods and brands, with Hong Kong serving as a gateway to the China market by providing other economies with a venue for marketing their goods to Mainland China consumers,” Sec. Lopez said.
In addition, Hong Kong hosts an estimated 60 million tourists a year, of which 40 million are from the Mainland. Such fits with the initial assessment of the Philippine Export Marketing Bureau that the Philippines can promote products in Hong Kong, including jewelry and design-driven products like luxury furniture, home furnishings, decors and fashion accessories, according to the trade chief.
With regard to services, both sides are exploring cooperation to develop education services, computer and related services, professional services and other business services, all of which are of interest to the Philippines.
Sec. Lopez also shared that ASEAN continues to make strides towards integrating the region into the global economy through its active FTAs with dialogue partners China, Japan, Korea, India, Australia, and New Zealand.
by admin | Jul 13, 2017 | DTI Updates, National News
In support of an “Inclusive, Innovation-led Growth” for a strong ASEAN Economic Community (AEC), the Philippines, through the Department of Trade and Industry (DTI), is conducting today the ASEAN 2017 MSME Development Summit at the Philippine International Convention Center (PICC), Manila, the Philippines.
The Summit will place the interests of MSMEs at the center of the ASEAN Economic Community (AEC) agenda and putting together the MSME advocates, mentors, enablers and business experts from the ASEAN region who can help develop, handhold, and empower the MSMEs and spread the economic fruits of the AEC dream.
With the theme, “The 7Ms Towards Shared Prosperity in ASEAN,” the DTI aims to gather insights from thought leaders and experts addressing the 7Ms that sum up the elements of the approach and framework for enabling and fostering the MSMEs.
“Through the 7Ms, we’ll empower the MSMEs so they can also share in the benefits of the ongoing economic growth, and improve the quality of their lives by engaging in vibrant entrepreneurial activities,” said DTI Secretary Ramon Lopez.
The seven-point strategy includes Mindset, Mastery, Mentoring, Markets, Money, Machines, and Models of Business. These will equip the entrepreneurs in making a difference in the market while contributing to the larger cause of sustaining the entrepreneurial revolution in ASEAN.
MSMEs are integral to the economic development and growth of the ASEAN region as they outnumber large enterprises in both quantity of establishments and share of the labor force they employ. The ASEAN MSMEs comprise the 95-99% of all business establishments, generating between 51% and 97% of employment. .
“We are advocating the 7Ms of DTI Secretary Ramon Lopez in helping the entrepreneurs set up their businesses and be a smarter entrepreneur. And this 2017, in time for the country’s hosting of ASEAN, we want to advance and mainstream the 7Ms in ASEAN region,” said DTI Regional Operations Group (ROG) Undersecretary Zenaida Maglaya.
More than 20 caliber speakers and panelists from ASEAN Member States (AMS) will share inspiring and valuable stories of leadership and entrepreneurial journey on various plenary discussions on Promoting MSME Development Mindset, Mastery and Mentoring Toward Competitiveness and Resilience, Accessing Domestic and Regional Markets, Overcoming Money Hurdles, and Machines and Proactive Business Models Toward Productive and Responsive MSMEs.
At the end of the Summit, prominent business takeholders and key players will provide support and recommend priority actions towards helping achieve economic prosperity in the region through MSME development.
