PHILEXPORT SEES 'GOLDEN ERA' WITH INFRA SPENDING, FREE TRADE DEALS

Philippine micro, small and medium enterprises (MSMEs) could experience a “golden era” due to increased infrastructure spending and business opportunities brought about by free trade agreements (FTAs) and the ASEAN Economic Community (AEC). In their general membership meeting last Friday, Philippine Exporters Confederation Inc. (Philexport) President Sergio R. Ortiz-Luis Jr. said that 12 priority manufacturing and service industries are set to benefit from the government’s infrastructure program, with its budget of around P8 trillion through 2022. “The infrastructure impetus is just one good break we need, as exports surged 22.5 percent in January, backing our trade performance, which grew by 14.2 percent,” he noted. “Don’t forget the many free trade agreements just waiting to be tapped. We cannot overemphasize the cost-competitive advantage of availing ourselves of the FTAs, once the non-tariff measures are hurdled.”