NEDA Deputy Director-General Emmanuel F. Esguerra discussed the outlook for the export sector in 2015, during the 4th Quarter General Membership Meeting of the Philippine Exporters Confederation, Inc. (PHILEXPORT) last October 21 at the Hyatt Hotel in Manila.
Esguerra said that given the country’s strong economic performance, following the trend of double-digit growth in exports, high household spending, and increased fixed capital formation, growth prospects remain positive and that the country is likely to achieve even the lower end of the 6.5-7.5 percent GDP growth target for 2014.
Esguerra also highlighted the sector’s wealth of opportunities following current developments in services, trade and industry talks in the ASEAN and EU. To maximize these potentials and increase the gains, he said that the draft Philippine Export Development Plan (PEDP) 2014-2016 should be linked with the Comprehensive National Industrial Strategy (CNIS) being formulated by the Department of Trade and Industry (DTI).
In the PDP Midterm Update, target merchandise and services export earnings by 2016 are US$91 billion and US$29 billion, respectively. “We will continue to commit to the updated PDP targets as our fighting targets and pursue measures to reach these figures,” he concluded.
Download link for high-resolution photo: https://flic.kr/s/aHsk5543RR