Shangri-La The Fort, Taguig City
June 15, 2023

President Ferdinand R. Marcos Jr. underscored the transformative agenda of the Philippine Export Development Plan (PEDP) 2023-2028 to boost the Philippines’ export industry as the country’s “economic lynchpin” when he graced the International Trade Forum: ‘Empowering Philippine Industries’ at Shangri-La The Fort in Taguig City.

“With the signing of the Philippine Export Development Plan (PEDP), we formally begin the implementation of the key strategies to nurture the growth of our local export industry for the next six years, to transform it into a strong and highly competitive pillar of our economy,” the President said, highlighting its positive economic impacts to the Philippines.

The strategy is expected to generate high-quality and stable employment opportunities, highly competitive products and services, and higher revenues.

Likewise, he expressed optimism to turn the Philippine market as an “agile export powerhouse” by the year 2028 by diversifying the country’s export portfolio — a goal he is set to achieve after finding out that 40% of Philippine export products is dominated by only one (1) export product.

“The level of diversification is something that we have to look at and we have to improve in the coming years. But we also recognize that there is a great potential in the sector,” he said, highlighting that there is at least US$49 billion worth of untapped revenues to explore.

Speaking before various business groups, the President assured them of the Administration’s commitment to provide a conducive environment of doing business in the country, especially with the Philippines recently joining the Regional Comprehensive Economic Partnership (RCEP) Agreement —the largest free trade agreement in the world with 15-country market coverage.

Moreover, he encouraged the private sector to invest their energies and resources in the export market as the government takes on a whole-of-nation campaign program to achieve the goals set under the PEDP 2023-2028.

“So, together, with a whole-of-nation approach, let us once again declare our slogan ‘Let’s Make it Happen!,’ the Chief Executive said.

Organized by the Department of Trade and Industry (DTI) that is headed by Secretary Alfredo Pascual who is also Chair of the Export Development Council (EDC), the International Trade Forum: ‘Empowering Philippine Industries’ held sessions on ‘Unlocking Trade and Investment Opportunities from an RCEP Partner Perspective’ and ‘Leveraging Opportunities and Addressing Challenges,’ among others.

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