BAGUIO CITY – “This is a new dawn for the Philippine export industry.”
This is the statement of Deodariel Baniqued, Executive Director of PhilExport Cordillera Administrative Region Trade & Export, Inc. (PHILEXPORT Cordillera) as he expressed his strong appreciation to President Ferdinand ‘Bong-Bong’ R. Marcos Jr. approving the Philippine Export Development Plan (PEDP) 2023-2028 recently.
“We are grateful to President Marcos for his support of the export industry,” Baniqued, said, adding, “the PEDP is a roadmap for our industry to achieve its full potential and contribute to the country’s economic growth.”
The PEDP sets a target of increasing exports by 10% per year to reach $240 billion by 2028. It also aims to create 10 million jobs in the export sector.
“The PEDP is a bold and ambitious plan, but we are confident that we can achieve it with the whole-of- government approach,” said Baniqued. “We are excited to work with President Marcos to make the PEDP a reality.”
President Ferdinand R. Marcos Jr.’s support for the Philippine Export Development Plan sends a clear message to the international community that the Philippines is open for business and committed to advancing its economic interests. As the nation progresses towards the goals outlined in the plan, it is expected that job creation, foreign investments, overall economic growth and social transformation will be significant outcomes.
The PEDP includes a number of initiatives to support the export industry, such as: Providing tax incentives for exporters; Investing in infrastructure to improve connectivity and logistics; Promoting trade agreements with other countries; and Developing human resources for the export sector.
“The PEDP is a game-changer for the export industry,” said Baniqued. “It will give us the measures we need to compete in the global market and create jobs for Filipinos.”
The export industry is a major contributor to the Philippine economy. In 2022, exports totaled $110 billion, accounting for 17% of GDP. The industry employs over 3 million people.
“The PEDP will help us to further expand our reach and create more opportunities for Filipinos,” said Baniqued. “We are grateful to President Marcos for his support of the export industry.”
Empowering Industries, Enlivened Cultures, Uplifting the Nation
The approved Philippine Export Development Plan aims to bolster various industries, including agriculture, manufacturing, and services, by providing targeted strategies to address challenges and capitalize on emerging opportunities. The plan also emphasizes innovation, sustainability, and diversification to ensure the country remains resilient and competitive on the international stage.
With a renewed focus on improving trade relations, investing in technology, and fostering collaboration among industry stakeholders, the Philippines is well-positioned to navigate the evolving global trade landscape successfully.
In his closing statement, Baniqued reiterated the optimism surrounding the plan’s implementation, saying, “The Philippine Export Development Plan is a testament to President Marcos Jr.’s dedication to driving our nation’s prosperity. The PEDP is also a platform for attaining the Sustainable Development Goals (SDGs) 2030. Likewise, it enlivens age-old indigenous industries in the Cordilleras reinforcing our indispensable advocacy of cultural preservation, revival and promotion. We look forward to collaborating with various stakeholders to transform this vision into a reality that benefits every Filipino.”
As the Philippines embarks on this exciting journey of export-led growth, the nation stands united in appreciation of President Ferdinand R. Marcos Jr.’s visionary leadership and commitment to shaping a brighter future for all.