Philippines Plans to Revive Philtrade
The Department of Trade and Industry (DTI), in a move to boost exports and investments this year, plans to revive the Philtrade as a permanent venue for exporters to showcase their world-class products.
During a radio interview with DTI-Public Relations Director Thelma Dumpit Murillo, Undersecretary for Trade and Investment Promotion Cristino Panlilio said talks were currently underway between the DTI and the owners of the property, Social Security System (SSS) and Philippine National Bank (PNB).
Once re-established, PhilTrade Center will be a permanent exhibition center open year-round for buyers of products such as garments, housewares, furniture, Christmas decors and others.
This will also serve as a venue for micro, small and medium enterprises (MSMEs) to exhibit their goods, as well as to facilitate the buyers in finding local products.
Another strategy to boost exports and investments is the reorganization of the Foreign Trade Service Corps (FTSC), DTI’s trade and investments promotion arm abroad which will focus on specific markets by geographic location such as Europe, North America, India-Pakistan-Sri Lanka-Nepal market, and others, Panlilio said.
Each market will be served by a team of experts in the area of export, importation, investments, commercial intelligence and data gathering. This move, which will start this month, is expected to make the FTSC more efficient and deliver results.