The Center for International Trade Expositions and Missions states that over 40 Philippine exporters and manufacturers, including those of furniture and ceramics, hope to bring in $3.82 million at a forthcoming trade fair in Germany. With a combined goal of reaching millions in sales over the course of the five-day trade show, CITEM is hosting its largest delegation of Philippine manufacturers and businesses in 2024.
What products will be showcased at the German Trade Fair?
It further stated that 40 successful and emerging Filipino manufacturers and brands will be represented under the Design Philippines umbrella during the trade event.
Where will the German Trade Fair be held?
More Filipino brands are expected to participate at Ambiente, which is being held at Messe Frankfurt, Germany, this year, according to a statement from the Center for International Trade Expositions and Missions (CITEM). The organization hopes to increase sales there.
Is this the first time the Philippines will be attending the German Trade Fair?
According to Citem, the DESIGNPhilippines produced $2.73 million in transactions, with 30 firms taking part in the Ambiente 2023 round. According to Citem, 40 Filipino manufacturers and brands would be present “collectively” during the course of the five-day trade show in 2024.
Is there a theme for this year’s German Trade Fair?
The export promotions division of the Trade department released a statement noting that this year’s Ambiente showcases current takes on modern lifestyle, with circular design, resource conservation, archival discoveries, and fresh developments serving as major sources of interest.
Which Philippine resources are featured in the German Trade Fair?
Boasting a wide variety of products, the Philippine delegation is poised to take the European market by storm. According to the CITEM, a lot of the items have a significant emphasis on environmental sustainability and are composed of wood, resin, woven fiber, clay, and earthenware.
How does this event affect international trade with the Philippines?
According to CITEM executive director Edward Fereira, Design Philippines has had a steady increase in export sales, inquiries, and an increasing number of customers from the region following CITEM’s profitable involvement abroad, particularly Ambiente, in prior years.
Is the German Trade Fair working with other Philippine organizations?
It was emphasized that it collaborated with DTI-Antique and the Design Center of the Philippines (DCP) to produce the goods that were first displayed at Manila FAME 2023.
Can the Philippines’ participation in the German Trade Fair increase international trade credibility?
In a move to exhibit crafts from diverse regions in the Philippines, Citem said DESIGNPhilippines “presents” Antique and Quirino areas for the Germany-based trade expo. According to Citem, both of these provinces are renowned for using their “abundant” natural resources to craft useful home and lifestyle items.
Antique
The Antique delegation, in collaboration with the DTI Antique office and the Design Center of the Philippines, will be showcasing textiles, looms, and home décor at the trade exhibition.
Quirino
The province of Quirino is home to “intricate” fossilized flowers, purses, clothing pieces, furniture, and locally manufactured décor like wood sculptures. The Citem also stated that 11 brands will be representing the province at the aforementioned international trade show.
Promotion of International Trade for Philippine Businesses
The Citem, which is the Trade department’s export promotions division, stated that it is dedicated to creating, fostering, and advancing micro, small, and medium-sized businesses, brands, designers, and manufacturers through the application of a comprehensive strategy to export marketing in collaboration with other public and private organizations.
Strategic Investment Priority Plan for International Trade
Encouraging a Strategic Investment Priority Plan (SIPP) via industry-specific advertising unique to the brand in Target markets will receive more attention. The SIPP installation, in accordance with the CREATE Act, will provide appealing, solid investments that will increase the value of diverse, intricate, and well-developed goods and services offered nationwide. This will similarly be kept an eye on by an Early Warning system, particularly to aid in raising the rates of return on authorized investments.
Commodity Group Statistics for International Trade
In terms of commodity category, the nation’s leading exports in November 2023 remained to be electronic goods, which brought in a total of USD 3.44 billion, or 56.1 percent of all exports during that time. According to the Philippine Statistics Authority, this was followed by other product exports with an export value of USD 334.42 million (5.5%) and other mineral-based items with USD 230.93 million (3.8%).
Most Significant Exports in International Trade
Regarding socioeconomic groups, APEC nations accounted for the lion’s share of the nation’s November 2023 goods exports, accounting for USD 5.12 billion or 83.6 percent of all exports. Following this came the Regional Comprehensive Economic Partnership (RCEP), valued at USD 3.05 billion (49.8%), and East Asia, valued at USD 3.08 billion (50.3%).
Significantly, the Philippines has a trade imbalance while being a developing nation. Substantial product specialization is encouraged by the general consensus in pertinent periodicals with the goal of gaining an economic advantage in international trade.
While foreign direct investments tend to have a negative effect on exports, investments in workforce growth, novel goods and production advancements, and innovation, correspondingly, speed up the expansion of the nation’s export sector. Given that exports contribute to GDP computation, increasing exports increases GDP, which helps in the nation’s recuperation from the recession. The German Trade Fair is just one event among the countless opportunities that Philippine businesses may take part in the international arena.
