The Department of Trade and Industry (DTI) is expecting President Rodrigo Duterte to approve the new Philippine Export Development Plan (PEDP) 2018-2022 after the plan was recently endorsed by the Economic Development Cluster.
The PEDP 2018-2022 is a five-year roadmap that identifies strategies that support the Philippines’ efforts to reach its export targets and improve its export competitiveness. The new roadmap was endorsed by the Economic Development Cluster last June 14.
DTI chairs the Export Development Council (EDC), which oversees the implementation of the PEDP and coordinates the formulation and implementation of policy reforms for export.
“Past PEDPs have been helpful in setting the direction that we implement to attain our targets. With the new plan, we aim to level up our initiatives and address recurring issues through concrete and efficient action plans that will benefit both the public and the private sector,” DTI Secretary Ramon Lopez said in a statement.
In 2017, the PEDP identified a target of US$92.15 billion in export revenues for combined merchandise and services exports. DTI noted that the PEDP has been instrumental in the country’s hitting its export target in 2017, even exceeding it with actual export revenue of $98.84 billion.
Lopez also mentioned the goal of the PEDP to synchronize initiatives to help attain end-period target for exports of $122 billion by 2022 as identified in the Philippine Development Plan (PDP). Thus, instead of the usual PEDP as a three-year rolling plan under the Export Development Act (Republic Act No. 7844), the PEDP 2018-2022 extends until the end period of the PDP.
“This intensifies the mandate to the Export Development Council and the DTI to strictly implement and efficiently cascade action plans as it becomes integral in attaining the medium-term plan in PDP and in the long run, in attaining the Ambisyon 2040,” Lopez added.
AmBisyon Natin 2040, crafted by the National Economic and Development Authority, represents the collective long-term vision and aspirations of the Filipino people for themselves and for the country in the next 25 years.
PEDP 2018-2022 identifies three strategies that lay out action plans in support of export growth in the coming periods.
The first strategy dwells on the government’s goal of improving the overall climate for export development by removing unnecessary regulatory impediments, enhancing trade facilitation, improving access to trade finance, and sharpening export competitiveness.
The second strategy intends to exploit existing and prospective opportunities from trading arrangements. DTI has existing programs that aim to increase awareness of the various opportunities offered by the free trade agreements (FTAs) that the Philippines currently enjoys. In the new PEDP, the second strategy proposes a dedicated program like DTI’s Doing Business in Free Trade Areas (DBFTA) to strengthen promotion efforts to prospective and existing exporters.
Lastly, the plan proposes the crafting of comprehensive packages to promote select products and service sectors.
“We are working closely with the private sector and other government agencies in attaining success on this and we welcome the issuance of the Memorandum Circular No. 27 in October last year that directs all concerned and relevant agencies to strengthen the implementation of the PEDP in the coming periods with their identified roles and tasks,” DTI undersecretary for trade and investments promotion Nora K. Terrado said.
The memorandum further identifies the integral roles of the identified agencies in implementing the PEDP. It explicitly links PEDP to PDP, further supporting their closer synchronization and strengthening time frames and targets.
Once the PEDP is approved, the EDC will hold stakeholder engagements across the country.