PH must diversify export range to become leading exporter – Marcos
AGRI PROJECT President Marcos meets with local and agriculture officials in South Cotabato as he leads the launch of the province’s rice production modernization program in Banga town on Wednesday. (MALACAÑANG photo)
MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Thursday emphasized the need to diversify Philippine exports.
He announced it at the International Trade Forum, where the Philippine Export Development Plan (PEDP) was discussed with key government officials and the private sector.
Marcos approved the PDEP, implemented from this year to 2028.
The six-year plan aims for the Philippines to become an export juggernaut.
Article continues after this advertisement“I came across a rather eye-opening statistic when we were planning on and putting together this export plan for the Philippines,” he revealed.
Article continues after this advertisement“In that, 40 percent of all our exports are only one product. So the level of diversification is something that we have to look at, and we have to improve in the coming years,” he said.
Marcos said the Philippines’ exports lag behind its Asian rivals but did not provide the figure.
“What we have to do is to allow ourselves the restructuring of some of the elements that are within the law, that are within the rules so that we can compete on an even basis,” the Chief Executive pointed out.
“That is why we are studying what other countries are doing for their successful trade agreements for their exports, and the best right now is in Asia. That is our competition,” he said.
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