Marcos stresses PH's need to bring up its export game

President Ferdinand "Bongbong" Marcos Jr. on Thursday underscored the country's need to elevate its export game in order to compete with other foreign markets.

"Ang pinakamagaling sa ngayon ay nandito sa Asya. Iyan ang kakumpetensiya natin [The best are here in Asia. They are our competitors]," Marcos told reporters following the launching of the Department of Trade and Industry's (DTI)  Philippine Export Development Plan in Taguig City.

"That is why we have to bring up our game, export game a little bit and support our exporters so that they can compete in foreign markets. And that they are able to be not only suppliers but also industrial consumers of the products that are around the world. In other words, to strengthen trade."

In his speech during the event, Marcos stressed that the Philippines has been falling behind its ASEAN neighbors when it comes to trade.

"We still have to grapple with critical issues, such as comparatively less-diversified export portfolio and trade barriers and frictions," he said.

"It has become clearer to us what the evolving export landscape looks like now. Our role in the global marketplace is becoming more apparent. We are more aware about the normal exigencies of trade and commercial dealings in our relations with other countries," the President added.

Marcos said that with the signing of the Philippine Export Development Plan, the country formally begins the enforcement of the key strategies "to nurture the growth of our local export industry for the next six years, to transform it into a strong and highly competitive pillar of our economy."

"It is correct that the DTI views our export industry as an 'economic lynchpin'. Indeed, this distinct sector holds together what could appear to be disparate components of our economy, but make them work in such well-coordinated and efficient manner so as to achieve a higher and practical objective," he said.

Marcos also said the export plan contains a critique of the overall business climate and enabling environment.

Earlier this month, Marcos approved the Philippine Export Development Plan that aims to capitalize on export growth opportunities.

Trade Secretary Alfredo Pascual has said the export plan is in line with the administration's Philippine Development Plan, which Marcos approved in December last year.

The Philippine Development Plan aims to strengthen the country's economic and social transformation from 2023 to 2028.  —KBK, GMA Integrated News