Exporters warn of industry closures, seek more government funding

THE PHILIPPINE Exporters Confederation, Inc. (Philexport) said urgent government intervention is needed as more of its members shut down, citing the absence of financing.

- Justine Irish D. Tabile

“Philexport has in fact received resignations from members closing shop,” Philexport President Sergio R. Ortiz-Luis, Jr. said at a general membership meeting last week, adding that the industry’s sentiment is that the government needs to step in.

At the National Export Congress, the Department of Trade and Industry’s Export Marketing Bureau (EMB) reported that the number of exporters declined to 4,000, or half of what the total was a decade ago.

He said exporters, especially micro, small, and medium enterprises (MSMEs), continue to face problems accessing financing and raw materials, They also have to deal with stiffer market requirements, supply-chain disruptions, and compliance.