January 24, 2018, 9:17 am
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Reverse trade fairs to promote local sourcing of zone firms

The Philippine Economic Zone Authority (PEZA) is holding reverse trade fairs that aim to attract investors in the production of goods that are commonly imported by ecozone locators, according to Charito Plaza, director-general of PEZA.

In an interview, Plaza said the agency hopes to minimize the importation of inputs as well as of machineries.

Plaza said rather than highlighting what the country has to offer, these reverse trade fairs will feature products and services which are not currently produced or offered locally.

“We would like to help local suppliers grow, enhance their productivity,” said Plaza.

Plaza also said this strategy would also help ease doing business as inputs are readily available onshore.

She said PEZA is now taking an inventory of the products imported as well as the volume based on import permits issued by the agency to ecozone locators.

Based on its study, PEZA estimates 20 to 25 percent of requirements of export manufacturers are produced by local suppliers, the rest are being imported.

“We would like to increase the local content of products we export,” said Plaza.
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