The Department of Trade and Industry (DTI) on Friday signed a memorandum of understanding (MOU) with the Philippine Retailers Association (PRA) and the Supply Chain Management Association of the Philippines (SCMAP), addressing critical challenges such as innovation and job creation while laying out a roadmap for the sector's continued growth.
According to Trade Secretary Maria Cristina Aldeguer-Roque, the partnership underscores the significance of the wholesale and retail industries in the Philippines as a dynamic sector that plays a pivotal role in the nation’s economic growth.
To ensure its continuous development and competitiveness, Roque emphasized that “it is essential to address the policies and regulatory challenges that impact wholesale and retail operations and the entire supply chain.”
“While the PRA partnership is vital for achieving the goals set out in the Blueprint, our collaboration with SCMAP ensures that we address the entire end-to-end process, not just the wholesale and retail segment. This holistic approach allows us to streamline operations, enhance efficiency, and strengthen the entire supply chain,” Roque stressed.
The DTI disclosed that in 2023, the wholesale and retail trade, along with the repair of motor vehicles and motorcycles sector in the Philippines, contributed approximately P4.4 trillion to the country’s gross domestic product, up from P4.2 trillion in 2022, highlighting its significant role as a major GDP contributor.
Additionally, these sectors employed 10.3 million people, ranking second only to agriculture.
According to Roque, the MOU aims to collaboratively develop the Section G Job Blueprint for the wholesale and retail trade sector, fostering job creation within the sector.
The blueprint will prioritize strategies for enhancing supply chain integration and leveraging digital technologies to improve efficiency and competitiveness.
Furthermore, the MOU stipulates the implementation of market access initiatives to enhance the presence and competitiveness of Filipino products, aligning with the objectives of the Amended Retail Trade Liberalization Act.
“These initiatives will encompass strategies to promote domestic products in both local and international markets and fostering economic resilience,” the DTI chief said.
Lastly, the MOU is geared towards establishing mechanisms for ongoing knowledge sharing, collaboration, and coordination among the participants, including regular meetings, joint research initiatives, and the exchange of industry insights and best practices to sustain sectoral growth and development.
The MOU was signed by Secretary Roque, PRA President Roberto Claudio, and SCMAP President Dennis Llovido at the DTI office in Makati City.