CITEM eyes modest $25M in spot sales from Manila Fame trade show

The Center for International Trade Expositions and Missions (CITEM) is targeting a modest $25 million from spot sales during the Manila FAME trade show-March edition.

 

The trade show held twice a year in March and in October is the platform for export and design that showcases export products like furniture, handicrafts and wearable accessories.

 

Spot sales used used to reach as much as $150 million per show until China entered the scene as a major player in the world market, selling products at give away prices, Rosario Virginia Gaetos, CITEM executive director, told reporters on the sidelines of the Manila FAME trade show on Friday.  

 

“We want to have at least $25 million on-the-spot sales from this show,” Gaetos said.

 

The trade show last October generated $20 million in spot sales.

China and emerging markets

 

In the case of China, Gaetos said Philippine exporters should tag the Chinese as a market and not as threat to business.

 

“Let us look at China as a potential market. The Chinese market has changed,” she said. Gaetos noted the Chinese consumers now prefer higher quality products to cheap knockoffs.

 

As the longest running trade show in Asia Pacific, Manila Fame will continue to be held as a pillar of support to the export sector, Gaetos said. “200 to 300 exporters cannot afford to go overseas so we have to maintain this platform. As long as SMEs (small and medium enterprises) need us, we will continue having Manila FAME,” she added.

 

With the US as the biggest Philippine market for furniture, handicraft and wearables, Gaetos said there is a need to continue promoting products stateside.

 

Two months from now, CITEM intends to fly 15 companies for the International Contemporary Furniture Fair in the US and so they can interact with more buyers.

 

However, Manila wants exporters to tap other emerging markets like Nigeria, Turkey and Kazakhstan as well as Persian Gulf states where massive construction projects are taking place like the United Arabe Emirates, and not get too fixated on the big players like the US and China. 

 

“We want to tap the emerging markets because they are new. They are interested,” Gaetos noted.

 

Red Box program

 

To encourage a culture of trend-setting and innovative designs, the Philippines has developed the Red Box program to nurture young designers by exposing them to trade shows and giving them access to local manufacturers.

 

“Red Box is the perfect platform for budding designers as well as local manufacturers to exchange knowledge on design, innovation, and craftsmanship. It really helps parties realize their concepts and ideas,” Gaetos noted. – VS, GMA News