Exports should grow 40% to meet 2024 target—group

PHILIPPINE Confederation of Exporters Inc. (PhilExport) president and Export Development Council (EDC) vice chairman Sergio Ortiz-Luis, Jr. said exports should grow 40 percent to meet the $143.4-billion target for 2024 under the Philippine Export Development Plan (PEDP) 2023-2028.

Ortiz-Luis, speaking during the Philippine Farm Tourism Conference, urged exporters to strive for a faster growth, compared to the 10-percent ambition this year.

He acknowledged the challenges faced by the agriculture sector, including sluggish growth, low income of farmers and fisherfolk and inadequate inputs, finance and technologies.

He also underscored the need for reforms to enhance exports and transform the country into an attractive investment hub.

Government data showed a 7.6-percent decline in exports to $73.52 billion in 2023, with December 2023 sales slightly decreasing to $5.78 billion.

Held at Bellevue Hotel in Panglao, Bohol, the event provided an ideal venue to showcase the potential and beauty of farm tourism.

Bohol’s recognition as the country’s first UNESCO Global Geopark in 2023 underscored its potential as a sustainable farm tourism destination.

The conference highlighted the significance of food tourism in boosting agricultural production and the local economy, emphasizing the learnings, models, and best practices in fruit and vegetable farms, aquaculture, artisanal fisheries and green investments in farm tourism.

PhilExport said it remains committed to facilitating positive developments for the industry and the country, including the farm tourism sector.