THE Department of Trade and Industry said the new Philippine Export Development Plan (PEDP) will be launched on June 15.
Trade Secretary Alfredo E. Pascual told reporters on the sidelines of a news conference in Makati City last week that the PEDP 2023-2028 will prioritize the industrial, manufacturing, transport, technology, media, telecommunications, and health and life sciences sectors.
“Essentially what the PEDP has done is to identify the promising sectors or industry clusters that can generate significant increases in exports,” Mr. Pascual said.
Mr. Pascual said the government wants to maximize trends like supply chain diversification following the pandemic.
“One example is the move of the US to diversify sources of their imports, especially in electronics and semiconductors; we want to grab that opportunity,” Mr. Pascual said.
During the National Export Congress in December, PEDP planning facilitation team leader Cielito F. Habito projected export earnings of up to $240.5 billion by 2028 if the plan is implemented effectively.
The PEDP seeks to boost trade promotion, marketing, design innovation and branding initiatives. It also pushes for active membership in regional and bilateral preferential trade agreements.
The plan also seeks to transform the Philippines into an exporter of high-value products and services from its current status as a source of commodity and intermediate goods.
Philippine exports rose 5.7% to $78.98 billion in 2022. — Revin Mikhael D. Ochave