DTI eyes Latin America, U.S. markets

Mexico was the Philippines’ 26th major trading partner out of 222 countries in 2018.

DTI will showcase personal products, housewares and wearables at the upcoming the Expo ANTAD & Alimentaria in Guadalajara, Mexico. Manny Angeles @tribunephl_mba

The Department of Trade and Industry (DTI) is increasing trade relations with Latin America and the United States through an outbound business-matching mission in 2020 in Mexico and Los Angeles.

The mission is part of DTI’s bid to expand the market for Filipino exporters.

DTI said the mission will focus on fast-moving consumer goods (FMCG). It will be conducted by the DTI’s Export Marketing Bureau and the Philippine Trade and Investment Center.

The mission also entails participation in the Expo ANTAD & Alimentaria in Guadalajara, Mexico, which it regarded as Latin America’s largest food and supermarket show.

The three-day international event enjoins the entire food industry, from distribution to the food service sector. Among the FMCG showcased in the show are personal products, housewares and wearables.

“The three-day event will offer a great opportunity for exhibitors to experience the potentials of the Latin American market,” the DTI said.

This engagement is set to be EMB’s second in Mexico following its participation in the same event in 2018, where it said it met with buyers from Mexico and other Latin American countries such as Chile, Ecuador, Peru, Panama as well as from California and Florida in the USA.

Mexico was the Philippines’ 26th major trading partner out of 222 countries in 2018. It is also the country’s 15th export market and 41st import source, with total bilateral trade of $756.81 million.

The initiative to explore the Latin American market comes as the DTI urges exporters to tap new markets to boost the country’s exports. The trade agency earlier on said it is also looking at ramping up trade relations with emerging markets Africa, South Asia and Central Asia.

Aside from business missions to jack up trade, DTI is also pushing for free trade agreements with South Korea and the United Arab Emirates to increase exports to these markets.

Philippine exports jumped 5.1 percent in the third quarter, to $25 billion, amid uncertainties due to the long-standing trade dispute between US and China. Export receipts were boosted by the 8.6 percent increase in services exports, to $11.1 billion, and a 2.4 percent rise in goods exports to $13.9 billion.