THE EXPORT Development Council (EDC) is keeping an annual growth target of 10% for the country’s merchandise shipments up to at least 2013, relying on added demand boost from neighbors like China, government and industry officials said separately yesterday.
The goal is contained in the Philippine Export Development Plan 2011-2013 which President Benigno S. C. Aquino III approved last Tuesday after an EDC presentation, Secretary Ramon “Ricky” A. Carandang of the Presidential Communications Development and Strategic Planning Office told reporters.
He added that while the new plan will end in 2013, the government is considering keeping the 10% annual growth goal until the end of its term in 2016.
“The President approved it with very minor revisions, not even worth mentioning,” he said.
“We’re looking at an annual growth of 10% in exports between now and 2016,” Mr. Carandang said.
The government reported last Tuesday that merchandise exports actually slipped by 3.2% annually to $4.104 billion in May, though shipments still grew 7.51% annually to $20.625 billion in the first five months of the year.
National Economic and Development Authority Director-General Cayetano W. Paderanga, Jr., a member of the EDC, confirmed that the joint government-export sector body is keeping its targets.
“EDC has not yet changed its figures. They’ll [sic] probably observe whether the trend will [change] before they adjust their plans,” Mr. Paderanga said via text.
In a phone interview yesterday, EDC vice-chairman Sergio R. Ortiz-Luis, Jr. said East Asia will play a bigger role in the country’s exports under the plan.
“We’re maintaining the usual markets, [but] with special emphasis on Asia…,” Mr. Ortiz-Luis said.
“We’re keeping China, because their [sic] economy is still growing, and Japan, because while they have a problem, their recovery will be fast.”
He noted that, in the final draft of the export development plan, “the changes are changes in nomenclature — they’re very minor, doable, [and] not material.” –Businessworld
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