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Philippines Shines with 5.7% GDP Growth: Exports and Key Sectors Lead the Surge

The Philippines’ latest gross domestic product (GDP) grew by 5.7% in the first quarter of 2024, led by gains in financial and insurance, wholesale and retail trade, and manufacturing sectors. The services sector rose by 6.9%, industry and agriculture, forestry, and fishing sectors by 5.1% and 0.4%, respectively.

Secretary Alfredo E. Pascual noted the DTI’s contributions through business-friendly programs. Merchandise exports increased by 4.8% compared to the previous year, with electronics, mainly semiconductors and electronic data processing, copper concentrates, coconut oil, fresh bananas, and chemicals.

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DTI Inks Tatak Pinoy Act IRR to Boost Filipino Products and Services Globally

On May 22, 2024, the Department of Trade and Industry (DTI) Secretary Alfredo E. Pascual along with Senator Juan Edgardo “Sonny” Angara, the conceptualizer and author of the Act and other notable signatories signed the Implementing Rules and Regulations (IRR) for Republic Act No. 11981, also known as the Tatak Pinoy (Proudly Filipino) Act. This legislation aims to support and promote Filipino-made products and services globally.

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EDC and BOC Strengthen Collaboration to Streamline Customs and Boost Trade

The Export Development Council (EDC) has bolstered its collaboration with the Bureau of Customs (BOC) and its consultative bodies, the Central Customs Industry Consultative and Advisory Council (CICAC) and BOC – Ninoy Aquino International Airport (NAIA) CICAC, to streamline customs processes and enhance partnerships between the government and private stakeholders. CICAC acts as a bridge between the BOC and the business-industrial sector, addressing customs and industry-related issues, promoting mutual understanding, and strengthening relationships.

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PH to Launch FTA Portal & Origin Management System with KTNET’s Support

KTNET and INTERCOMMERCE are joining forces to develop an FTA Information Portal and Origin Management System tailored for Philippine exporters.

The overarching aim is to simplify adherence to Rules of Origin, trim operational expenses, and streamline the process for utilization of preferential trade agreements.

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Navigate Global Markets: ITC’s Free Trade Tools for Export Success

The International Trade Center (ITC) offers a free tool that would benefit all exporters. These tools are available to all users in the European Union (EU) and developing countries such as the Philippines. 

Exporters can access the ITC Trade Map, Market Access Map, and other ITC market analysis online. The Trade Map is an online user-friendly application to analyze global trade flows, based on one of the largest trade flow databases in the world. It also aims to facilitate strategic market research, monitoring both national and product-specific trade performance, revealing comparative and competitive advantage, identifying the potential for market or product diversification, and designing and prioritizing trade development programs for both firms and trade support institutions. 

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Driving Export Success: Nationwide Initiative for the PEDP 2023-2028

The Export Development Council (EDC) is preparing for the nationwide launch of stakeholder engagement sessions, a collaborative effort aimed at implementing the Philippine Export Development Plan (PEDP) 2023-2028. These sessions are not just about sharing information, but about fostering a sense of shared responsibility and involvement among stakeholders. They are designed to align efforts and promote government programs, with the active participation of key players in the sector.

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Empowering Philippine Exporters: ARISE Plus Project Unlocks EU Markets

The ARISE Plus Philippines project, funded by the European Union and led by the Department of Trade and Industry, is a vital support system for Philippine exporters. Its goal is to boost the country’s international trade performance and competitiveness, particularly in the EU market, while fostering economic integration and inclusive growth.

The project focuses on aiding various types of exporters, including MSMEs, coconut, and game development exporters. It provides them with training in export marketing, quality management, and food safety, along with assistance in accessing EU markets. This includes support for participating in trade fairs and other market linkages, both domestically and overseas.

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PCCI concludes the study on Identifying and Addressing PH Free Trade Agreements Utilization Gaps


On 18 April 2024, the Philippine Chamber of Commerce and Industry-Human Resources Development Foundation, Inc. (PCCI HRDF) wrapped up its study on Identifying and Addressing Philippine Free Trade Agreements (FTAs) Utilization Gaps. They conducted a presentation and validation seminar attended by various stakeholders and government agencies, including the Department of Trade and Industry (DTI), Department of Agriculture (DA), National Economic and Development Authority (NEDA), Bureau of Customs (BOC), and Anti-Red Tape Authority (ARTA), Philippine Exporters Confederation, Inc. (PHILEXPORT), Philippine Chamber of Commerce and Industry (PCCI), Korea Trade Network (KTNET), among others. 

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Driving Innovation: Highlights from the 1st TW-PH International Tech Summit

The 1st International Tech Summit between Taiwan and the Philippines, jointly hosted by IMMORTA Corporation and the Taiwan National Development Council, was recently concluded on 25 April 2024 at the Shangri-la The Fort, Manila. The event aimed to foster collaboration and innovation between the two countries.

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