DTI and PHILEXPORT partner to maximize FTA benefits

By Francis Allan L. Angelo

The Department of Trade and Industry (DTI) and the Philippine Exporters Confederation, Inc. (PHILEXPORT) signed a memorandum of understanding (MOU) on June 11, 2024, to strengthen their collaboration and enhance the utilization of Free Trade Agreements (FTAs) and other preferential arrangements.

The partnership aims to boost the country’s export sector by facilitating broader market access for Philippine products.

DTI Secretary Alfredo E. Pascual emphasized the significance of educating exporters about FTAs.

“We aim to enable our exporters and would-be exporters to capitalize on the benefits of our free trade agreements, allowing them to leverage broader market access to promote Philippine products globally,” Pascual said in a press statement.

The new partnership will also intensify the DTI’s Trade Education and Advocacy Campaign.

The initiative is designed to optimize the benefits of several key FTAs, including the Regional Comprehensive Economic Partnership Agreement, the Philippine-European Free Trade Association, the Philippine Japan Economic Partnership Agreement, and the Association of Southeast Asian Nations (ASEAN) trade agreements.

Under the MOU, the DTI and PHILEXPORT will collaborate on various initiatives such as capacity-building activities, mentorship programs, and networking opportunities for business and industry associations.

These efforts are intended to enhance trade facilitation, policy development, and economic growth.

PHILEXPORT President and CEO Sergio R. Ortiz-Luis, Jr. expressed confidence in the renewed partnership.

“We welcome this renewed partnership and are confident that enhanced coordination between government and private sectors will lead to more efficient processes and increased competitiveness. Together, we will streamline processes, remove trade barriers, and expand market access, ensuring that Philippine products remain globally competitive,” Ortiz-Luis said.

PHILEXPORT, as the umbrella organization for the country’s exporters, is mandated to strengthen the export industry through advocacy, export promotion, and development programs.

The partnership is a continuation of their efforts to bolster the Philippine economy through increased exports.

The MOU signing event was attended by key officials, including PHILEXPORT Vice President for Advocacy, Communications, and Special Concerns Ma. Flordeliza C. Leong, DTI Bureau of International Trade Relations Director Marie Sherylyn D. Aquia, and DTI International Trade Group Undersecretary Allan B. Gepty.

The strategic partnership between DTI and PHILEXPORT is set to play a crucial role in the successful implementation of the Philippine Export Development Plan 2023-2028. In 2023, the Philippines recorded a combined goods and services exports value of USD 103.6 billion, reflecting a 4.8% increase from 2022.