MANILA is banking on the strong demand for Philippine processed food and agricultural products as it sets its sights on doubling sales to nearly $250 million from China’s largest trade show this year.
Trade Secretary Ramon M. Lopez said the Philippines will send 100 local firms to this year’s China International Import Expo (CIIE). The government has already secured the commitment of over 50 enterprises to participate in the expo.
With over 100 local firms expected to take part in the CIIE, Lopez estimated sales from the trade show to hit nearly $250 million, or double the figures from last year.
“If we can fill the 100 slots, we can double the figures from last year. We can hit above $200 million if we got more than $100 million [the prior year],” Lopez told reporters on the sidelines of Franchise Asia Philippines 2019.
Lopez is optimistic participating enterprises will generate the target sales this year, as he said China is encouraging its firms to source their input requirements from other countries to boost import figures and balance its trade sheet.
“China is encouraging importation [of products] to buy from our companies. [The] bottom line [is] at least our firms are really welcome there. [The Chinese government] is even the one pushing for this policy. If [we] can supply, [they] will buy,” the trade chief explained.
The Philippines will be showcasing its processed food and agricultural products in the CIIE this year.
According to Lopez, the government is planning to create a country pavilion at the trade show to organize and unify the participating firms. He recalled the delegation last year operated without coordination, which did not bode well for the country.
“This time we will support them [participants] with a booth presentation. In other words, we will have like a Philippine pavilion [at the CIIE]. Last year local firms operated on their own, which did not present a good image,” Lopez said.
The CIIE gathered 172 countries, regions and international organizations, as well as over 3,600 enterprises, during its opening run last year, according to the trade show’s web site. It generated a total of $57.83 billion in sales, both in orders and on site procurement.
Total sales of Philippine exhibitors amounted to $124 million, of which $108 million were orders and $16 million were on site purchases.
The total sales went over and above the government target of $50 million. Agricultural products, such as banana, avocado and orange, comprised most of the country’s sales.