A study by the International Trade Center showed an untapped trade potential of $49 billion between the Philippines and Japan.
“The Philippines has the potential to increase its exports by $49 billion. The study further stated that the most important market region with opportunities for Philippine export growth is East Asia,” the Department of Trade and Industry said Wednesday.
The ITC assesses the export potential of trading countries by identifying exporters, markets and products that could be prioritized in trade promotion activities.
Published data on the Philippines spanned a 5-year period from 2015 to 2019, utilizing GDP growth projections to estimate the potential export value that a country can achieve for a given product and export market in the year 2025.
The DTI disclosed new trade commitments of $620.72 million and $22.67 million in fresh investment leads generated in one of the business pitches during the Tokyo state visit of President Ferdinand Marcos Jr.