The Department of Trade and Industry (DTI) is preparing for the launch of the Philippine Export Development Plan (PEDP) 2023-2028, according to DTI Secretary Alfredo Pascual.
In a press conference, Pascual noted the timeliness of the launch as the country formally joined last June 2 the world’s largest free trade agreement, the Regional Comprehensive Economic Partnership (RCEP).
“The PEDP also supports the government’s efforts toward economic growth–that is, strengthening the Philippine exports’ global position by promoting trade and investments.
With this goal, the PEDP emphasizes the creation of an enabling environment for attracting investments,” Pascual said.
The PEDP is one of the tools government will use in further developing local industries to cater to both domestic and global markets.
PEDP will list strategies of the government in the next five years to increase the exports of goods and services from the country.
The export industry is hoping to hit exports of $120 billion to $130 billion for both goods and services in the next two years.
Former socioeconomic planning secretary Cielito Habito earlier projected exports could possibly reach $240.5 billion by 2028, more than double last year’s level under the proposed PEDP. The new PEDP, which sets the growth targets and strategies, is still being validated by the DTI. –Irma Isip
