Exporters told to look nearer

DAVAO CITY — The Philippines should start strengthening trade with other Asian countries other than its current markets, China and Japan, a central bank consultant said here early last week.

Vicente B. Valdepeñas Jr. noted that Singapore trades with China, Hong Kong, Japan, South Korea and Taiwan, and Malaysia. Malaysia, he added, also has significant trades with Thailand, besides Japan and China. “The Philippines links only with Japan and China [as major Asian trade partners], period,” he said during a Bangko Sentral road show on external competitiveness held here. “You don’t wonder why these two countries [Singapore and Malaysia] are huge exporters, because they have huge linkages with [the rest of] East Asia.” He added that the local school curriculum should include Mandarin, to provide the long-term foundation for stronger links with China, which will be the economic superpower in Asia in the next 50 years. He added that, in order for the Philippines to improve its export competitiveness, it must constantly update export planning and management skills; improve product design according to global trends; benchmark export delivery with best practices worldwide; keep track of competitors’ export performance; and develop more creative instruments for financing exports.  –Businessworld