INTEGRATING MICRO, small and medium enterprises’ (MSMEs) into global value chains and maximizing free trade agreements (FTAs) will be key to boosting exports, the Philippine Exporters Confederation, Inc. (Philexport) said.
Citing the Philippine Development Report 2024, Philexport said via Viber that pushing MSMEs into global markets “can boost exports and foster product diversification beyond the major exports of semiconductors and electronics.”
It cited the potential for government support “through capacity building and funding for technology, innovation, skills upgrading, and market intelligence.”
Philexport said that the Department of Trade and Industry (DTI) has started developing a customer relationship management system.
“To provide responsive support, the system should be able to utilize existing firm-level monitoring data collected from MSMEs while improved data collection and processing is still ongoing,” it added.
On maximizing FTAs, Philexport said the government can play a role by increasing funding for export promotion.
“And also still capacity building, addressing trade barriers, improving supply chain flow through trade facilitation, and hard and soft infrastructure,” it added.
Philexport said the private sector can help through innovation, research and development, skills upgrading, and market research.
It added that the private sector will also need to have stronger collaboration with the government on market intelligence.
Philippine merchandise exports slipped 0.5% to $73.21 billion last year, the Philippine Statistics Authority said, citing preliminary data. — Justine Irish D. Tabile