DTI urges MSMEs to go global-A A +A
Tuesday, July 15, 2014
WITH the full integration of the Association of Southeast Asian Nations (Asean) economy coming into effect by 2015, the Department of Trade and Industry (DTI) advised micro, small and medium enterprises (MSMEs) to be competitive in the widening global economy.
“Changes are a natural offshoot of an expanding world market. Local companies need to think globally and no longer confine themselves to simply targeting the domestic market,” Export Marketing Bureau (EMB) Director Senen M. Perlada said in a recent information session on Asean integration’s effect on local businesses.
Perlada advised private sector participants that they should not to be afraid of the changes taking place but instead meet challenges head-on since the Asean integration next year will open up opportunities and markets for them regionally and worldwide.
“Changes are already being felt by both businesses and consumers in the Philippines since the process of regional integration is evolutionary; it has already started and will take place over time,” Perlada said.
As proof, Perlada cited the proliferation of products made by Asean member countries side by side with local products on grocery shelves nationwide.
"This is not only happening in the Philippines. The same thing is going on elsewhere in Asean member countries: Vietnam, Myanmar, Singapore, Malaysia, Indonesia, Laos, Brunei Darussalam, Cambodia, and Thailand. In the same manner, Philippine products and brands have penetrated other countries, with a number of them being among the leaders in their product categories," Perlada said.
Perlada also said that local companies can maximize their competitive stance when they familiarize themselves with the benefits they can get from the free trade agreements (FTAs), which the Philippines has signed with the Asean, China, Japan, South Korea, Australia and New Zealand, and India. (PR)
Published in the Sun.Star Cagayan de Oro newspaper on July 15, 2014.