Marcos launches plans to boost 'lagging' export sector

Raffy Cabristante, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Container vans stacked together are seen inside the Philippine Ports Authority (PPA) compound in Manila on April 1, 2020. George Calvelo, ABS-CBN News/file" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2020/business/11/04/20200401-container-vans-phil-port-authority-gc-2473.jpg"/><figcaption>Container vans stacked together are seen inside the Philippine Ports Authority (PPA) compound in Manila on April 1, 2020. <em>George Calvelo, ABS-CBN News/file</em></figcaption></figure></div><p>MANILA — President Ferdinand Marcos Jr. on Thursday launched his administration&#x27;s plans for the Philippine export sector in the next six years, saying the industry was still lagging behind the country&#x27;s Asian neighbors.</p><p>At the International Trade Forum in Taguig City, Marcos and Trade Secretary Alfredo Pascual unveiled the Philippine Export Development Plan (PEDP) for 2023 to 2028, which aims to make the Philippines an &quot;agile export powerhouse in key industries&quot; and a &quot;leading exporter of high-value products and services&quot; by the time Marcos steps down from office.</p><p>Marcos approved the PEDP drafted by the Department of Trade and Industry (DTI) earlier in June.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/06/23/dti-touts-plan-to-boost-export-sector">DTI touts plan to boost export sector</a></li></ul><p>In his speech, Marcos noted that while Philippine exports were growing, the country was &quot;still playing catch-up&quot; in the international trade market, citing less diverse export portfolios as well as trade barriers and frictions. </p><p>&quot;I came across a rather eye-opening statistic... that 40 percent of all our exports are only one product. So the level of diversification is something that we have to look at and we have to improve in the coming years,&quot; Marcos said.</p><p>Despite this, the President said he was confident that the industry was headed for a &quot;bright future.&quot;</p><p>&quot;We also recognize that there&#x27;s a great potential in the sector. No less than $49 billion worth of revenues remains untapped,&quot; he added.</p><p>In an interview with reporters after the event, Marcos said that aside from the PEDP, the Regional Comprehensive Economic Partnership (RCEP) would help the Philippines to boost its exports.</p><p>The RCEP, a free trade agreement (FTA) between the Philippines and its 9 fellow member-states of the Association of Southeast Asian Nations (ASEAN), came into force on June 2.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/21/23/what-is-rcep-why-is-it-important">What is the Regional Comprehensive Economic Partnership?</a></li></ul><p>FTAs between the Philippines and South Korea, the European Union, and the United States were also in the works, Marcos said.</p><p>&quot;Ang pinakamagaling sa ngayon [na exporter] ay nasa Asya. Iyan ang kakompitensya natin. That is why we have to bring up our export game a little bit,&quot; he added, but did not disclose the Asian country that the Philippines considers its top competitor.</p><p>(The best exporter right now is in Asia. That is our main competition.)</p><p>Under the new PEDP, the Philippines aims to become a leading exporter in electronics, information technology and business process management, minerals, agricultural and agri-based products, transport products, wearables, fashion accessories, and travel goods, chemicals, and home furnishings by 2028.</p><p>The following industries would also be developed for its products to be exported by the country: industrial, manufacturing, and transport; technology, media, and telecommunications; health and life sciences; and modern basic needs resilient economy.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/07/23/philippines-seen-as-emerging-hub-for-manufacturing">Philippines seen as emerging hub for manufacturing</a></li></ul><div><strong>RELATED VIDEO: </strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2477095" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

President Marcos noted that while Philippine exports were growing, the country was 'still playing catch-up' in the international trade market.

Marcos launches plans to boost 'lagging' export sector | ABS-CBN

Halalan 2025

Entertainment

News

Metro.Style

Lifestyle

Sports

More

Traffic

Horoscope

Business

Marcos launches plans to boost 'lagging' export sector

Marcos launches plans to boost 'lagging' export sector

Raffy Cabristante,

ABS-CBN News

Published Jun 15, 2023 12:26 PM PHT

|

Updated Jun 15, 2023 01:26 PM PHT

Read More:

Ferdinand Marcos Jr.

Bongbong Marcos

exports

Philippines

export industry

Department of Trade and Industry

RCEP

free trade

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.