FOODPhilippines marked another successful participation in the annual China International Import Expo (CIIE), surpassing the USD655 million overall sales in 2022, through the USD1.1 billion generated this year.
This is the highest earning recorded by the Philippines since the maiden edition in 2018 of CIIE, the world’s biggest import export trade show.
This included purchase agreements made prior to the opening of the 6th CIIE, reaching nearly USD900 million with ceremonial turnover and signing during the show. More than USD226 million was recorded under booked sales, sales under negotiation, retail sales, and business matching activities after the 6-day trade exhibition.
The top food products in terms of dollar value of export leads were durian, bananas, specialty coffee, and pineapples. Bananas and pineapples remain as the Philippines’ staple fresh fruit exports to China.
The Philippine government expects this achievement to translate into substantial employment opportunities for Filipino families, a more inclusive economic growth felt by a larger population. In a report issued by the Philippine Statistics Authority (PSA), a huge portion of the Philippine economy is driven by export-related activities. A significant growth was recorded in 2022, generating a total of USD78.8 billion in export revenue from USD74.7 billion in 2021.
Led by the Center for International Trade Expositions and Missions (CITEM) and in close collaboration with the Department of Trade and Industry – Export Marketing Bureau (DTI-EMB), Philippine Trade and Investment Center (PTIC) – Shanghai, Philippine Department of Agriculture – Office of the Agriculture Counselor (DA-OAC) in Beijing, Philippine Exporters Confederation, Inc., (PhilExport), and the Federation of Filipino Chinese Chambers of Commerce & Industry, Inc. (FFCCCII), 16 food exhibitors took the center stage to showcase the rich and diverse heritage of Philippine food landscape. Joining the Philippine delegation are four other Philippine businesses supported by the International Trade Centre (ITC) from the food, consumer, and services sectors.
As part of the overall export sales in CIIE, business matching activities led by the DTI-EMB, in partnership with the Bank of China (BOC) contributed a total of USD3.4 million.
Stressing the importance of the country’s consistent participation in CIIE, DTI Undersecretary Rodolfo said the Philippine government eyes to expand its bilateral trade and investment relations with China and the rest of the world.
He explained, “The CIIE has become an important platform for the country to showcase its best-selling food products and attract potential investors in China, creating new business opportunities and boosting the economy.”
“The Philippine government is keen on exploring opportunities for partnerships with Chinese enterprises to increase its export capacities to China by enhancing the entire value chain. And every sector plays a crucial role in attaining this because export development entails a whole-of-nation approach,” PTIC-Shanghai Commercial Counselor Peñaranda said.
