16/06/2023 (Philippines) Trade Secretary Alfredo E. Pascual emphasized the importance of additional funding in assisting small companies to tap into overseas markets, stating, "If we promote exports and help micro, small, and medium enterprises (MSMEs) develop, these investments will yield returns."
Sergio R. Ortiz-Luis, Jr., of the Philippine Exporters Confederation, Inc. (Philexport), called for a doubling of the DTI's budget for 2024, stating, "The DTI should be given enough funding, and the worthwhile projects should also be funded."
"RCEP utilization is an essential component in the successful implementation of the PEDP," Mr. Pascual said, highlighting the importance of the Philippine Export Development Plan (PEDP) 2023-2028 in conjunction with the Regional Comprehensive Economic Partnership (RCEP) to unlock the Philippines' untapped export potential.
"The DTI does huge work in the export sector but it does not have the budget. The DTI should be given enough funding, and the worthwhile projects should also be funded," Mr. Ortiz-Luis said, expressing the need for increased resources to support the DTI in achieving the export targets set in the PEDP 2023-2028.