Trade Secretary Gregory L. Domingo (center) receives a plaque from the outgoing and incoming officers of the Cebu Chamber of Commerce and Industry. (CDN PHOTO/ CHRISTIAN MANINGO)
Trade Secretary Gregory L. Domingo has asked the Cebu Chamber of Commerce and Industry (CCCI) to help small and medium enterprises (SMEs) tap the global market.
He said SMEs should be able to enjoy the privileges offered in the different free trade agreements that the Philippines has signed. SMEs comprise about 98 percent of the businesses in the country.
He noted that the Philippines is the only country in the Asean region that was granted the Generalized Scheme of Preferences Plus (GSP+) status in the European Union (EU).
“This is projected to add 200,000 to 300,000 jobs over the next three to five years if capitalized,” Domingo told members of the chamber during their general membership meeting on Friday.
The GSP is a trade arrangement under which the EU grants non-reciprocal trade preferences to beneficiary countries. With the GSP+ status, more than 6,000 Philippine export products will be allowed in the EU at zero duty.
The Department of Trade and Industry (DTI) has been conducting an information campaign to build awareness of the GSP+ among the SMEs and encourage them to avail of the privileges.
Domingo said the DTI has been focusing on promoting the interest of SMEs in the global market. He looks forward to working with CCCI in ensuring that SMEs in Cebu take advantage of all global opportunities.
“The Philippines will lead this year’s APEC meetings and we will be pushing further for the interest of the SMEs,” he said.
He said global trade policies and procedures should take interest in the participation of SMEs “as a foremost and not a by the way.”
Other initiatives by DTI that SMEs should maximize are the Shared Services Facilities (SSF), eRoving Academy and the Negosyo Centers.
“We are now in the process of establishing Negosyo Centers all over the country. This year we are targeting 100 Negosyo Centers. Cebu’s Negosyo Center will be launched next month,” Domingo said.
He said Cebu’s economy is one of the fastest-growing economies, driven by IT (information technology), tourism and real estate.”
He said there are 26 IT centers in Cebu and nine more being developed. The industry generated 100,000 jobs and reached one million nationwide as of last August.
“Tourism traffic in Cebu is expected to reach 4.4 million this year and 5.8 million next year. In my meeting with some businessmen, I mentioned that I already noticed improvements in your old terminal and I cannot wait for the new terminal to operate soon as it will fuel more tourism traffic for Cebu,” he added.
“The future of the economy looks bright in the face of a multi-decade high economic growth. The government is now prioritizing investments in people through education and health as well as infrastructure,” he said.