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Archive for the ‘Philippines’ Category

Philippine Automotive Parts Exports Drive Economic Growth

Automotive Industry, News, Philippines

December 19, 2024

The Philippine automotive parts industry is set to achieve remarkable milestones in 2024, with export revenues projected to reach $1.21 billion by year-end. This marks a robust contribution to the country’s international trade and reflects the growing demand for high-quality automotive components worldwide.   Looking ahead, forecasts indicate an increase in export performance, with revenues […]

Philippines and South Korea Trade Agreement to Boost Banana Exports

Free Trade Agreements, News, Philippines, South Korea

December 19, 2024

The forthcoming trade agreement between the Philippines and South Korea is set to create new opportunities for the Philippine banana industry. Starting on January 1, 2025, the agreement will reduce tariffs on bananas, making the country’s exports more competitive in the South Korean market.   Trade Secretary Ma. Cristina Roque highlighted the potential benefits during […]

Philippines Achieves Milestone in Rice Imports, Strengthening Global Trade Partnerships

Agricultural Imports, News, Philippines

December 18, 2024

The Philippines is poised to reach a record-breaking 4.7 million metric tons (MMT) in rice imports by the end of 2024, showcasing its active engagement in international trade and efforts to ensure food security. Recent data from the Bureau of Plant Industry (BPI) highlights this achievement, with shipments from January 1 to December 12 already […]

Philippines and Korea Strengthen Trade Ties and Drive Connectivity Through New Agreement

International Relations, News, Philippines, South Korea

December 18, 2024

The National Economic and Development Authority Board has approved the implementation of the free trade agreement between the Philippines and Korea, marking a significant milestone in enhancing economic collaboration and trade relations. This agreement aims to reduce market barriers, foster investment opportunities, and provide expanded access to goods and services between the two countries.   […]

Japanese Strawberries Make a Sweet Return to the Philippine Market, Boosting Trade Relations

Bilateral Trade Relation, News, Philippines

December 16, 2024

In a positive step for international trade, Japanese strawberries are set to return to the Philippine market following the successful lifting of an export ban. This decision, achieved through collaborative efforts between Japan and the Philippines, highlights the strengthening trade partnership between the two nations.   The Ministry of Agriculture, Forestry, and Fisheries (MAFF) of […]

Philippine Agricultural Exports Set to Thrive with New Trade Partnership

Agricultural Exports, News, Philippines

December 16, 2024

In an exciting step for Philippine trade, the Department of Agriculture (DA) and the Department of Trade and Industry (DTI) have forged a partnership to unlock the global potential of the country’s agricultural exports.   A Memorandum of Agreement (MoA) between the two departments outlines a shared commitment to boosting export sales of key commodities […]

Philippines Strengthens Global Trade with Agri-Fisheries Drive

Agricultural Development and Trade, News, Philippines

December 11, 2024

The Philippines is taking significant strides to enhance its global trade position, with a particular focus on the agriculture and fisheries sector. The Department of Trade and Industry (DTI) and the Department of Agriculture (DA) have joined forces to implement strategic initiatives that will boost exports and strengthen the country’s economic standing.   By streamlining […]

Philippines Secures $5 Billion Investment Pledges from German and US Companies in Trade Boost

Germany, International Trade, News, Philippines, United States

December 6, 2024

In a significant development for international trade, the Philippines has garnered approximately $5 billion in investment pledges from German and American companies this week. These commitments, spanning diverse sectors such as healthcare and energy, signal a substantial step forward for the country as it vies for foreign capital in the global market.   During President […]

Philippines Pineapple Exports Continue to Thrive with Strong Market Growth

Agricultural Exports, News, Philippines

December 5, 2024

The Philippines’ pineapple industry is experiencing remarkable growth, with exports significantly expanding, particularly in its largest market—China. In 2023, the country exported an impressive 200,000 tons of pineapples to China, dominating the Chinese pineapple import market. This growth comes as a result of strong government policies that support the industry and boost its export potential. […]

Philippines-South Korea FTA Strengthens Agricultural Trade with Tropical Fruit Exports

Agricultural Exports, News, Philippines, South Korea

December 3, 2024

The Philippines and South Korea have taken a significant step to enhance their agricultural trade partnership with the ratification of a free trade agreement (FTA). This agreement is expected to open new opportunities for the export of Philippine tropical fruits to South Korea, complementing the existing trade in vegetables and other agricultural products.   President […]

Philippines to Boost Trade with $1.6 Million Hass Avocado Exports to Japan in 2025

International Trade and Agriculture, News, Philippines

November 18, 2024

The Philippines is set to make a significant mark in international trade as it aims to export $1.6 million worth of Hass avocados to Japan in 2025. This breakthrough comes after 13 years of negotiations, culminating in the country securing access to Japan’s highly competitive avocado market. The Bureau of Plant Industry (BPI) revealed plans […]

Philippines-South Korea Free Trade Agreement Set to Propel Apparel Exports, Strengthening Trade and Economic Growth

News, Philippines, Trade Agreements

November 13, 2024

The Philippines is preparing for a remarkable boost in its apparel export industry, with a new Free Trade Agreement (FTA) with South Korea projected to push export values to $1 billion by 2025. Expected to be effective in the first quarter of next year, the agreement offers the Philippines access to South Korea’s vibrant, zero-tariff […]

Philippines Expands Coconut Oil Exports to Australia, Strengthening Trade Ties

Agricultural Exports, News, Philippines

November 12, 2024

The Philippines is set to significantly boost its coconut oil exports to Australia, tapping into the rising demand for high-quality, natural ingredients in Australian food, beverage, and cosmetic sectors. This expansion, driven by Ares Merchants Philippines Inc. (AMPI), will add an estimated 30,000 metric tons of coconut oil annually to Australia’s imports, a move expected […]

Electronics Industry Sets Ambitious Goal for 5% Export Growth in 2025

International Trade, News, Philippines

October 28, 2024

The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) is excited to announce its target of a 5% increase in exports for the upcoming year, driven by proactive inventory corrections and a surge in new investments.   SEIPI President Danilo C. Lachica shared this optimistic outlook during the 13th Arangkada Philippines Forum 2024, […]

Philippines Semiconductor Exports Set for 5% Growth in 2025, Signaling Trade Opportunities

Economic Development, News, Philippines

October 25, 2024

The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) is excited to announce an anticipated 5% growth in semiconductor exports for 2025. This positive projection comes despite current challenges, highlighting the resilience of the sector and its critical role in global trade. SEIPI President Danilo C. Lachica shared insights during the 13th Arangkada […]

Philippines Rice Import Forecast Increased to 4.9 Million Metric Tons in 2025

Agricultural Trade, News, Philippines

October 14, 2024

The United States Department of Agriculture (USDA) has announced a positive adjustment to its forecast for Philippine rice imports, raising the estimate to 4.9 million metric tons for 2025. This increase of 300,000 metric tons from the September estimate highlights the resilience of the Philippine agricultural sector in adapting to changing market conditions and ensuring […]

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