Local exporters of semiconductors and electronics said the Philippines’s free trade agreement (FTA) with South Korea would help the industry expand its market share and boost its growth prospects.
The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) noted that around 5 to 6 percent of semiconductors and electronics produced in the Philippines are shipped to South Korea.
Seipi President Danilo C. Lachica said FTAs are “always helpful” for exporters.
“Otherwise, we are at a disadvantage, ‘yung countries na may FTA tapos tayo wala…Because the overall unit cost will be higher for us. So it’s definitely beneficial for not just electronics, all the industries na nag-e-export,” Lachica told reporters on the sidelines of the 21st International CEO Conference organized by the Management Association of the Philippines (MAP) held last week in Taguig City.
Sans a trade deal with Seoul, he said electronics from the Philippines would have be less competitive than those shipped by countries that have an existing FTA with South Korea.
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