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THE
Philippines is setting an “ambitious” goal—considering
the global economic slide seen to continue at least
until next year—of increasing its combined merchandise
and services export revenues to $84.4 billion in 2010
based on industry growth-rate targets of 9 percent for
2008, 14 percent for 2009 and 15 percent for 2010.
Senen
Perlada, executive director of the Export Development
Council (EDC), said these figures arose from
consultations with various exporting sectors held as
part of efforts to craft the 2008-2010 Philippine Export
Development Plan (PEDP).
For
2008, Perlada said the public-private EDC set a goal of
a 4-percent to 6-percent hike in merchandise exports and
35-percent to 40 -percent increase in services exports,
for a combined 8-percent to 9-percent increment from
2007.
This
will improve the country’s total export revenues to
$64.2 billion for 2008 from $58.8 billion in 2007. For
2009, the three-year PEDP sees the services sector
continuing its rapid growth with a 40-percent increase
in export revenues, while the shipment of goods will go
up by 6 percent. This will result in a combined growth
of 14 percent and total export revenues of $73.2
billion.
In 2010,
services export is expected to maintain its growth pace
of 40 percent, while the merchandise sector is estimated
to grow by 8 percent.
“Ambitious, yes, but these targets are also consistent
with the Medium Term Philippine Development Plan [2004
to 2010 MTPDP]. We feel we still have the capability to
remain on track,” said Perlada in presenting the export
road map at the general membership meeting of the
Philippine Exporters Federation at the Sofitel Hotel
Wednesday afternoon.
For
merchandise exports, Perlada said growth will come from
auto parts, electronics, food and textile, among others;
while in services, the strong performers will be the ICT-enabling
firms, construction services, health and wellness and
retirement.
Perlada
said the adopted marketing strategies are based on
geographical and cultural markets, and export branding
for the Philippines will be started to give the
country’s products and their high quality more
visibility.
However,
the most crucial factor will be the export-promotions
fund from government, extended as assistance to the
sector. It currently stands at P280 million.
Perlada
said to achieve their targets, the sector would need at
least P1 billion in export development funding per year
for the three-year period.
According to a World Bank study, Perlada said every $1
spent for export promotion would yield a $40-increase in
revenues.
Perlada
said the assumptions set in the PEDP are still open to
changes, but that they have already sought an audience
with President Arroyo for its official presentation. |
