The Department of Trade and Industry (DTI) and the Philippine Exporters Confederation Inc. (PhilExport) signed a memorandum of understanding (MOU) to strengthen the country’s export sector and integrate it further into global value chains.
The strategic partnership leverages the Philippines’ free trade agreements (FTAs) including the Regional Comprehensive Economic Partnership (RCEP) to unlock new opportunities for Filipino exporters.
A key aspect of the MOU is the launch of a comprehensive trade education and advocacy campaign to equip exporters with the knowledge and tools they need to navigate FTAs and capitalize on the benefits they offer.
This includes information on preferential tariffs, rules of origin and other trade facilitation measures.
The DTI and PhilExport hope to create significant job opportunities and propel the Philippine economy towards sustainable growth by empowering exporters.
The MOU will also establish regular dialogues and consultations to ensure exporters understand the intricacies of FTAs and how to utilize them effectively and connect businesses and industry associations with opportunities to participate in global value chains through FTAs
The DTI and PhilExport will collaborate on programs to enhance the skills of exporters and PhilExport staff, allowing them to better navigate the international trade landscape.
Both parties agreed to share resources and information to support the initiatives outlined in the MOU, while adhering to data privacy regulations.