DTI, PhilExport vow to promote free trade agreements

The Department of Trade and Industry (DTI) and the Philippine Exporters Confederation, Inc, (PhilExport) signed a memorandum of understanding (MOU) to institutionalize their partnership in enhancing the country’s free trade agreements (FTAs), particularly the Regional Comprehensive Economic Partnership (RCEP), and improve the utilization of these trade deals, according to a report by Manila Bulletin.

The MOU was signed by DTI Secretary Alfredo E. Pascual and PhilExport President and CEO Sergio Ortiz Luis Jr. on June 11, 2024. Through this strategic partnership, the country’s exports could be integrated into the global value chains, resulting in higher exports.  

The MOU seeks to synergize the strategies of both the DTI and the PhilExport. In coordination with concerned government agencies, the DTI, in coordination with sectoral stakeholders and the academe has drafted a comprehensive strategy and plan to harness competitiveness in various economic sectors to effectively utilize the country’s FTAs or other preferential trade arrangements (PTAs). The plan is aimed at  strengthening the competitiveness of Philippine businesses, particularly, in micro, small and medium enterprises (MSMEs). 

Synergizing their strategies is expected to ensure consistency and continuity of a work program focused on promoting the Philippines’ strategic economic interests in the international arena.  

By institutionalizing the partnership between DTI and PhilExport, this will create higher awareness of the Philippines’ initiatives on FTAs, PTAs, Economic Partnership Agreements (EPAs) and similar or related accords, including but not limited to the RCEP agreement. 

The partnership will also conduct collaborative efforts, including the conduct of trade education, advocacy, and related activities to increase utilization of such agreements. 

They will also provide networking and linkage opportunities for businesses and industry associations seeking to participate in global value chains (GVCs) through FTAs, PTAs, EPAs and related trade deals. 

There will also be capacity-building activities and mentorship programs for exporters and technical staff members of PhilExport and its members to strengthen their capability to effectively and efficiently utilize FTAs, PTAs, EPAs and other similar accords.

In particular, the DTI will provide PhilExport access to available data and information necessary for the conduct of collaborative activities, subject to relevant laws, rules and regulations, such as on confidentiality and data privacy.

DTI will also assist PhilExport in disseminating relevant information materials on FTAs, PTAs, EPAs, and pertinent government regulations to business stakeholders and the public;

On the part of PhilExport, it will carry promote, support and cascade information on FTAs, PTAs, EPAs and similar and related instrumentalities among its members with the aim of raising awareness of the exporter’s community on the same.

It will also assign a focal person from the PHILEXPORT who will coordinate with the DTI on the implementation of the programs/ projects/ activities pursuant to this MOU.

PhilExport will also assist DTI in organizing consultative dialogues, roadshows, webinars/seminars and participate in such activities.

Funding for the programs, projects, and/or activities will be subject to the availability of funds.