The Economic Development Cluster, in its meeting last 14 June 2018, strongly supported and endorsed the Philippine Export Development Plan (PEDP) 2018-2022 for approval of President Rodrigo Roa Duterte.
Trade and Industry Secretary Ramon M. Lopez, Chair of the Export Development Council (EDC) eyes the approval of the PEDP 2018-2022 soon.
The PEDP 2018-2022 is a five-year roadmap that identifies three strategies and action plans to reach the country’s export targets of US$ 122 Billion in 2022.
The first strategy dwells on the government’s goal of improving the overall climate for export development through removal of unnecessary regulatory impediments, enhancement of trade facilitation, improved access to trade finance and export competitiveness.
The second strategy will exploit existing and prospective opportunities from trading arrangements. DTI has programs that aim to increase awareness on various opportunities offered by free trade agreements that the Philippines currently enjoys. In the new PEDP, the strategy proposed a dedicated program like DTI’s Doing Business in Free Trade Areas (DBFTA) to strengthen promotion efforts to prospective and existing exporters.
Lastly, the plan proposes the crafting of comprehensive packages to promote select products and services for export.