Export Measures Ready in 6 Months

Manila Bulletin, August 19, 2005 | Go to article overview

Export Measures Ready in 6 Months


Byline: BERNIE CAHILESMAGKILAT

Trade and Industry Secretary Peter B. Favila yesterday vowed to complete in six months various measures that would support the countrys exports growth targets of 10 percent this year and 15 percent next year.

Favila said this after he received instruction from President Gloria Arroyo at yesterdays National Export Congress to act on the "deliverables" or "quick wins" in the next six months.

These deliverables include the review of the export processing fees, shortening of time in the issuance of permits and business licenses, putting together the P1 billion export promotion budget under the Export Development Council and expedite approvals of geothermal energy projects and other projects tapping natural energy sources.

"These are needed to attain the exports targets," Favila said. Despite a slowdown in the electronics sector in the first half of the year, the exports sector has remained confident of meeting the 10 percent exports growth target this year.

Should the exports target is attained this year, the industry is setting a 15 percent growth target by next year.

The official government target is an exports target of $50 billion by 2006.

Philippine Exporters Confederation president Sergio Ortiz-Luis said the $50 billion exports target next year is based on the projected recovery by the electronics sector.

"Im taking their word for it," Ortiz Luis said.

Semiconductor exports, which accounts for 70 percent of the countrys exports grew 11 percent in the first half this year but the electronics sector like consumer durables exports were down by 17 percent. …

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