Philippine Garment / Leather Industry & Fabric Expo 2019
Our Second event in the Philippines
Garment Machinery & Parts
CAD / CAM Systems
Fusing & Pressing
Seam Sealing, Pleating
Washing Drying Tumbler
Fabrics & Garment Accessories
Cotton, Silk, Wool
Button, Belt, Bucker & Zippers
Brand Tape & Labels
Lace, Rhinestone Accessories
Needle & Thread
Leather Goods Machinery
Leather Tannery, and Synthetic Leather
Leather goods Accessories
Design & Computer-added Tools & Software
Opportunity Fact-finding Mission
The Philippines is an Asian economy with 104 million population domestic market and good export potential. The Philippines economy grew by 6.4% year-on-year (YOY) in the first half of 2017. The IMF expects the Philippines to maintain similar GDP growth in 2017 on the back of continued domestic demand and modest fiscal stimulus. The country is projected to be the fastest-expanding major ASEAN economy over the next 5 years. As one of the few ASEAN countries that have not plunged into negative growth in the past year, the Philippines has a stronger standing than many of its peers. For companies in search of market diversification, Philippines is a very promising market opportunity.
FAVORABLE TRADE POLICY
In 1980s, Philippines ranked top 6 exporters of apparel to the United States during the quota ages. In 2015, Philippines still had 137,000 textiles and 422,000 garment company workers. Efforts have been made to increase exports to the USA. Philippine Department of Trade and Industry (DTI) is targeting US$1 billion in incremental investments, US$3 billion in apparel exports and 600,000 jobs.
The Philippines is the only ASEAN country that enjoys the EU’s Generalised Scheme of Preferences Plus (GSP+) status, which grants full removal of tariffs to over two-thirds of tariff lines. As a member of ASEAN and WTO, the Philippines have ratified a number of regional free trade agreements to deepen economic integration in the region, including China (ACFTA), Korea (AKFTA), Australia - New Zealand (AANZFTA), Japan (AJCEPA), India (AIFTA) and European (EFTA).