The Department of Trade and Industry in Central Visayas (DTI-7) yesterday encouraged the local business sector to benefit from the Free Trade Agreements (FTA) between the Philippines and other partner countries.
Regional Director Asteria Caberte said that the FTA would open opportunities for small and medium enterprises to sell their products and services abroad.
Caberte together with other trade and industry officials met with business stakeholders yesterday to discuss the implementation of the program Doing Business in Free Trade Areas (DBFTA) for Central Visayas.
Senen Perlada, director of the Bureau of Export Trade Promotion, said the agency was intensifying its campaign to boost exports in the country through the DBFTA.
The program will help businesses especially exporters and importers on how to avail of lower and zero tariffs under the preferential trade agreements.
Caberte said on a press conference that Cebu’s economy relies on export of products like fashion accessories and furniture.
She also said that electronics production, which is about 60 percent of the import revenue in Central Visayas, would further help generate an increase of economic activity for Central Visayas.
“Cebu is an exporting hub,” Caberte said.
She also cited the export of food, garments, home-style and non-material services like performers and graphic artists which were also thriving in Cebu./Reporter Candeze R. Mongaya