Exporters are encouraged to employ new technologies to produce internationally competitive products and services and help grow Philippine exports deemed the linchpin of economic growth in the country.
Trade Usec. Abdulgani Macatoman said access to information in the digital era dramatically improves the lives of billions of people in the world through increasingly powerful computing devices and network, digital services and mobile devices.
“It (digital technology) can also provide workers with new tools and insights to decide more creative solutions to previously insurmountable problems,” he said.
Macatoman also cited innovations in artificial intelligence, robotics, biotechnology, and other emerging technological advancement.
The trade official underscored the importance of working with the private sector and the academe, noting the responsibility for growing Philippines exports is not only with the public sector.
However, he said the government will play an important role in setting the framework for growth and applying the needed action to stimulate growth in areas such as innovation, research and development, skills, education, exports, foreign direct investments, and entrepreneurship.
“This also means identifying and supporting business growth in areas where there is the greatest potential while ensuring the needed economic (dynamism) and infrastructure is in place to capitalize on the existing opportunities,” he added.
Macatoman said this is in line with the current Philippine Export Development Plan 2018-2022 that aims to achieve exports target of $122 billion to $130B by 2022 even amid the trade war between China and the United States.
“Analysis and studies have shown that the current trade war will be beneficial to the country especially to the exporters, particularly in the manufacturing industries. Thus, no matter what challenge the export community faces, the sector proves to be always resilient,” he added. – Press release
May 3, 2024
