President Ferdinand Marcos Jr. on Sunday wants to forge partnerships with like-minded countries like Japan to increase its share in the global creative industries market.
Speaking before the Creative & Sustainable Economy Through Innovation Event spearheaded by the Department of Trade and Industry, Marcos highlighted the Philippines' commitment to economic development through innovation and environmental responsibility.
Marcos mentioned the Philippines' recent advocacy at COP28 for climate resilience and collaborations in financing and nature-based solutions.
"The theme of the summit, 'Friendship and Cooperation,' resonates deeply with the Philippines," the Chief Executive said, referring to the United Nations' Sustainable Development Goals.
"Today, we find ourselves at the inflection point of innovation, creativity, and sustainability. We are at a juncture where the global community must collaborate to secure a brighter and more sustainable future," Marcos added.
He showcased examples of PH-Japan partnerships, including Auro Chocolate and Mitsukoshi's collaboration on sustainable chocolate creations, and Go Lifestyle Group and STYLEM's work on contemporary wear using indigenous Philippine materials with Japanese expertise.
Marcos said the global creative industries market, estimated at $2.6 trillion in 2022, is projected to reach up to $3.4 trillion in 2028, as the country intends to increase its share of the pie of these numbers.
Marcos stated that data speaks volumes, citing a recent record that shows that worldwide exports of creative goods and services reached $1.6 trillion in 2020 and the impact investment market was valued at $1.2 trillion in 2022. By the same year, it is expected to make up 10 percent of the world's gross domestic product (GDP).
"Our global investment in the low-carbon energy transition, totaling $1.1 trillion in 2022, with $495 million dedicated to the renewable energy sector, reflects our dedication to a greener and more sustainable future," he said.
The Chief Executive also lauded the First Lady's role as patron for indigenous textiles, design services, MSMEs, and public health, highlighting her "unwavering commitment to fostering sustainability."
"I am very optimistic that this collective effort towards a creative and sustainable economy will foster great opportunities and prosperity for the Philippines and for Japan," Marcos concluded.
