EXPORTERS in Central Visayas are encouraged to continue to innovate and improve their products and explore new markets to survive in a market that has been experiencing a 17-month decline in demand.
Trade Secretary Ramon Lopez said local exporters should work hard to achieve this to compete and survive in a market where players persistently compete for market demand.
“Where are we strong? How can we differentiate the products that we sell outside? Why should the market patronize our products and services?” Lopez, who was the speaker of POWWOW 2016 organized by Philexport Cebu in Cebu City last Friday, cited these questions that the exporters should focus on to remain relevant in the market.
Since the second quarter of 2015, the export sector has been experiencing a 17-month decline as a knee-jerk reaction to the dive of the global market demand. Experts chalk this movement to the shift of consumers’ lifestyle as well as political and generational change. Based on DTI’s records, the sector has only posted a slight increase of 5.1 percent last September.
Aside from innovating, Lopez also encouraged exporters to find their areas of competence, build on their strengths, ride on market trends and branch out to new markets.