DTI invites APEC firms to participate in ‘Sikat Pinoy’

The Department of Trade and Industry ( DTI) is inviting firms from other Asia Pacific Economic Cooperation ( APEC) economies to participate in upcoming Sikat Pinoy trade fairs to help promote Philippine products.

Trade Undersecretary Ponciano Manalo Jr. told reporters the DTI will ask other APEC economies to take part in the upcoming Sikat Pinoy trade fairs to help create opportunities for Philippine small and medium enterprises’ products.

“We will attempt to put an APEC component in Sikat Pinoy to create awareness and to create interest since there are foreigners, there are delegates ( in APEC meetings). It is always good to create that interest,” he said.

While the Sikat Pinoy National Food Fair held in March did not have APEC participants, the DTI invited APEC economies to be part of the Sikat Pinoy National Handicrafts Fair held earlier this month.

Among the APEC economies which joined the more than 100 Philippine handicraft suppliers by setting up exhibits at the trade fair were Indonesia, Malaysia, Peru and Taiwan.

Other Sikat Pinoy trade fairs to be held within the year will focus on furniture, art and fashion.

The Sikat Pinoy fairs are being held to support the growth of SMEs nationwide by providing a platform to showcase their products.

As the chair and host of this year’s APEC meetings, the Philippines is pushing for the promotion of SMEs.

In particular, the country wants SMEs to benefit from trade by becoming part of global value chains.

The country is likewise proposing initiatives on trade facilitation to make it easier for SMEs to expand their markets.

The SMEs which account for 97 percent of total businesses in the APEC, are considered a key contributor to the region’s economic growth.