Philippine exports surpassed $100 Billion in 2023

The Philippines achieved a historic milestone in 2023 as the total exports of goods and services reached USD 103.6 billion, marking a remarkable 4.8% increase from the recorded export performance of USD 98.83 billion in 2022. However, this falls short of $23.2 billion below the 2023 target outlined in the Philippine Export Development Plan (PEDP). 

Director Bianca Pearl Sykimte of the Export Marketing Bureau (EMB), concurrent Executive Director of the Export Development Council (EDC), reported that the Agriculture and Agri-Based Exports sector reached 6.6%, surpassing the 2023 target of 5.1%. Similarly, the ambitious target for the Transport Products also demonstrated significant growth, breaching 5.4% in 2023, exceeding the expected target of 4.2%. 

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ARISE Plus Philippines spearheads AEO program optimization for Bureau of Customs readiness

ARISE Plus Philippines led the workshop on optimizing the Authorized Economic Operator (AEO) Program for Bureau of Customs Readiness, focusing on advanced supply chain and logistics principles to raise awareness among economic operators.

The workshop comprised six sessions explaining how the AEO program can serve as a Future Game Changer, highlighting its tangible benefits to companies. Coca-Cola Beverage Philippines Inc. (CCBPI) and Toyota Motors Philippines (TMP) shared their experiences with the AEO program. Topics covered included support for Mutual Recognition Arrangements (MRAs), the use of modern technologies to bolster the AEO, the AEO Scheme for SMEs, and initiatives such as green customs and digitalization.

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EDC to Oversee IBPAP’s call for unified LGU regulations

The Information Technology and Business Process Association of the Philippines (IBPAP) President Jack Madrid raised the ongoing challenges posed by the inconsistencies in local government rules. These laws and regulations show varying and inconsistent interpretations in few cities. He noted that the Local Government units (LGUs) may have differing procedures for renewing local business permits, with some even requiring employees’ health certificates.

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PH as notable leader – driving global growth in foreseeable future

The Department of Finance (DOF) Secretary Ralph Recto reported that the Philippines is the fastest-growing economy in the Association of Southeast Asian Nations (ASEAN) leading it to the top (5.6%) based on the actual Gross Domestic Product (GDP) Growth Performance of ASEAN in 2023. Sec. Recto presented that the global growth will be led by Asia’s powerhouses for the next decades, notably by the Philippines. Contributing to this is the massive growth of the transportation and storage, construction, and financial services. 

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TIEZA features Online Issuance of Travel Tax Exemption Certificate

To provide convenience and excellent service to PH exporters, the Tourism Infrastructure and Enterprise Zone Authority (TIEZA)  features the online issuance of the Travel Tax Exemption Certificate (TEC). There is no change in the application procedures; exporters shall file their application for travel tax exemption at the authorized recommending agencies: CITEM, DTI-EMB, BITR, and PHILEXPORT for endorsement to EDC, who in turn approves or disapprove the endorsement to TIEZA to be granted TEC.

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EDC Enhances Partnership with BOC to Foster Economic Growth

During the Bureau of Customs’ (BOC) 122nd Founding Anniversary, the Export Development Council (EDC) showcased its commitment to collaboration as Deputy Executive Director Elsa De La Paz – Valenzuela represented the EDC within the Customs Industry Consultative and Advisory Council (CICAC).

The CICAC, established under Customs Memorandum Circular (CMC) 02-2024, serves as a consultative body bridging the gap between the BOC and the business-industrial sector. It aims to address pertinent customs and industry-related issues, promote mutual understanding, and strengthen the relationship between the BOC and industry partners.

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BOC Cuts Fees for Customs Bonded Warehouses, Backs MSMEs, and Eases Regulations

The Bureau of Customs (BOC) has recently implemented CAO 01-2024, showcasing significant reduction in fees for customs bonded warehouses (CBW), with a specific focus on supporting Micro, Small, and Medium-sized Enterprises (MSMEs) while also streamlining regulatory processes. 
This move comes in response to widespread appeals from stakeholders within the industry and seeks to bring uniformity to the diverse fee structures previously in place. One of the key revisions introduced by this order is the reduction in supervision fees, particularly benefiting MSMEs operating as members of CBW. 

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DOLE Gears Fund on Workers’ Skills Upgrade Projects

The Department of Labor and Employment (DOLE) gears to grant funds to enterprises focused on upskilling their workers’ capabilities.  

Relative to this DOLE, under the leadership of Sec. Bienvenido Laguesma issued Department Order 241, Series of 2024, the “Implementing Guidelines of the DOLE Adjustment Measures Program (DOLE-AMP) for Workers and Enterprises”. The program aims to boost human resources and achieve decent and sustainable work, benefitting workers’ productivity with improved and upgraded skills. Also, it financially supports enterprises that are up to reskill and upskill their employees to make them agile.

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Boosting Agriculture and Tourism: Lessons from the 7th Philippine Farm Tourism Conference

The 7th Philippine Farm Tourism Conference, hosted by the provincial government of Bohol, focuses on empowering farming communities towards sustainable growth in agriculture and tourism. Highlighting the significance of food tourism in boosting agricultural production and the local economy, the conference emphasizes learnings, models, and best practices in fruit and vegetable farms, aquaculture, artisanal fisheries, and green investments in farm tourism.

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