The government plans to increase exports of high-value goods, such as computer products and electronics, to Spain.
Finance Secretary Carlos Dominguez III, who met Spain’s Secretary of State for Foreign Affairs Ignacio Ybanez Rubio, said Philippine exports were at an advantage given the strong position of the US dollar against other Asian currencies, including the Philippine peso.
Dominguez said the quality of Philippine manufactured products was “quite competitive with the rest of the world.”
He said direct exports to Spain could include computers and computer parts, printers and electronic parts for smartphones and other devices that were exported by the Philippines to another country before these goods eventually ended up in a third country like Spain.
“Our manufacturing base here is growing and growing stronger. The fact that our currency has depreciated in the US dollar is certainly an advantage. Plus I think also our production here is quite competitive with the rest of the world,” Dominguez said.
