The Philippines must pursue infrastructure projects, trade agreements and the empowerment of small and medium enterprises to boost export competitiveness, the Department of Finance (DoF) said. The export sector is expected to recover this year, with additional shipments to China and Russia as trade relations improve, the DoF said in a statement on Tuesday. But the government must implement the necessary agenda and programs vital to improving the export sector that weakened in November last year, according to the latest DoF Economic Bulletin. Amid slowing exports, Finance Undersecretary and Chief Economist Gil Beltran said infrastructure development, free trade and bilateral trade agreements, as well as the empowerment of micro, small and medium enterprises (MSMEs) should be pursued. DoF data showed around 60 percent of Philippine exporters are MSMEs.

Source: Manila Times January 24, 2017 16:21 UTC