Cebu exporters pool resources for global economic rebound - Cebu Circle | Cebu City, Philippines

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Monday, August 17, 2009

Cebu exporters pool resources for global economic rebound

August 17, 2009 - CEBU’S export industries are pooling their resources in order to maximize the potential of existing and emerging markets as the global economy makes its expected rebound by the end of the year.

Players from the creative industries (furniture, fashion accessories, as well as gifts, toys and housewares), seaweeds and the health-and-wellness industries are pooling their money to create an extensive marketing plan in order to identify key markets abroad and the products that could successfully compete in these markets.

Philippine Exporters Confederation Cebu executive director Fred Escalona said the sector export marketing plan gathers all the individual marketing studies of each sector, as well as experts helping the companies in creating one encompassing study that can be accessed by all.

This is a comprehensive study on markets so we could identify what products should go to what market,” Escalona said.

Exporters in Cebu are hoping for an economic turnaround by the end of the year. Escalona said some sectors are already seeing a pickup in orders from clients abroad. He said houseware manufacturers are seeing up to a 15-percent increase in volume since the bottom of the economic slump around February or March this year, Escalona said.

Cebu produced a total of $6 billion in exports in 2008.

Technical working groups have already been created for the study funded by various funding institutions, as well as by industry players themselves. The study is expected to be completed by Novemebr this year.

Industry players expect the houseware and fashion acessories players to rebound first as homeowers resort to improving interiors instead of buying new homes, while consumers also go to accessories rather than buy new clothes.

Escalona, however, said the furniture industry is still suffering from declining orders. (W. Rodolfo III)

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