By Kris M. Crismundo
MANILA, Dec. 1 (PNA) — The Philippines is pushing local small and medium enterprises (SMEs) to get bigger share on global value chain.
“We are advocating for simplified rules for SMEs to easily participate in regional or global trade and benefit from trade agreements that the Philippines entered into,” said Department of Trade and Industry (DTI) Secretary Gregory L. Domingo.
Domingo added that both public and private sectors are working together to integrate local SMEs to the global value chain such as removing trade barriers for SMEs, marketing their products in overseas markets, strengthening the SMEs and integrate them to global trade along with multinational companies.
“Amid globalization and full integration of the ASEAN economies next year, we have been vigorously supporting the improvement of the capabilities of our SMEs so they can increase their participation in global trade,” he said.
This week, DTI, along with Export Development Council (EDC), and Philippine Exporters Confederation, Inc. (Philexport) is celebrating the National Exporters’ Week with theme focusing on developing and fortifying the presence of SMEs in global value chains.
Moreover, DTI stressed that the government continues to back the local SMEs in product development and design as well as in marketing support through Bureau of Domestic Trade Promotion (BDTP), Export Trade Promotion (EMB), Foreign Trade Service Corps (FTSC), Center for International Trade Expositions and Missions (CITEM) and Design Center of the Philippines (DCP).
The department also implemented programs to boost local SMEs such as the Shared Service Facility (SSF), Regional Interactive Platform for Philippine Exporters (RIPPLES), and Doing Business in Free Trade Areas (DBFTA), providing access to finance through the Small Business Corporation (SB Corp) and Philippine Export-Import Credit Agency (PhilExim), and advocating for improved market access through bilateral Free Trade Agreements (FTAs), among others.
“As DTI addresses supply chain gaps and programs to improve productivity and competitiveness, we encourage SMEs to innovate, diversify, and upgrade through advancements in technology, skills, and research and development,” it said. (PNA)