A PHILIPPINE delegation showcased the country's snacks, food supplements and health products in an expo in Hong Kong, with the aim of helping increase the country's export products.
The Department of Trade and Industry (DTI) said on Thursday that the Philippine delegation participated in the Lifestyle of Health and Sustainability (Lohas) Expo x Premium Natural Health Products Expo 2024 from January 26-28 at the Hong Kong Convention and Exhibition Center.
According to the DTI, the delegation was composed of YanYan International Philippines Inc., a company creating a diverse mix of snacks, chips, crackers, chocolates and beverages; and Hillside Food Products that produces products made from native ginger and turmeric extract from the footsteps of Mount Banahaw.
Also, Greatlab Pharmaceutical Inc., a company that produces capsules, hygienic products, oil and tea from herbs; and Bagakeño, that manufactures cashew butter and roasted cashew nuts, were among the Filipino companies that participated in Lohas.
"[This] aims to promote the export-quality products from the Philippines and attract potential distributors and importers ... which is in collaboration with a Hong Kong company named The Path of Health Ltd.," the DTI said.
It added that Lohas is the largest natural health products and food event in Hong Kong that features a range of high-quality and green products from global and regional enterprises.
Earlier this month, Trade Secretary Alfredo Pascual said that he is targeting higher Philippine exports this year.
He added that the DTI is aiming to increase exports this year since the country did not meet the export target for last year under the Philippine Export Development Plan (PEDP) 2023-2028.
The PEDP has set an export target of $112.3 billion (about P6.2 trillion) for 2023. However, total actual exports of the country from January to October 2023 reached $81.8 billion (about P4.5 trillion), down by $30.5 billion (about P1.6 trillion) compared to the same period last year.
For 2024, the export target under the plan was set at $127.0 billion (about P7 billion), up by $14.7 billion (about P816.6 billion) from the previous year's target.
For Bianca Sykimte, the director of the DTI-Export Marketing Bureau, the country has to grow its value of exports by about 40 percent from 2023 "to catch up."
"For us to be able to catch up with our PEDP target, we need to grow by about 40 percent this year... because we did not meet the target for 2023," Sykimte said.
Apart from that, Pascual also assured that efforts are being undertaken for the development of the country's micro, small and medium enterprises.