Expectations for recovery of the export sector during current year have amplified with some of the handicraft exporters once again receiving orders from several foreign buyers, who had curtailed purchases in 2009 owing to the global economic meltdown.
Chiqui Veneracion, Managing Director of Twenty Nine: Eleven Handicraft Trading said that, the market is rebuilding up its strength but at a very slow rate and added that, at present though they are getting inquiries but they are not necessarily converted into orders.
Veneracion, Vice President of the Philippine Chamber of Handicraft Industries (PCHI) revealed that, recently a regular customer from France has hiked its purchases and the company has also once again started receiving orders from its clients in South America. Also trade organizers in Hong Kong and Paris have expressed their interest in trade activities with them.
Noting that some buyers who had halted purchases during last year are now once again placing orders with some of the companies, Malou Balano, executive director of Philippine Exporters Confederation, Inc. (PHILEXPORT) Region 3, held that the European market is depicting signs of recovery.
Balano also revealed that manufacturers and exporters were saved, due to the booming domestic market and they expect the growth to continue in the same way in the current year too.
He also stressed on the need for exporters to ascertain, as to how the Free Trade Agreements (FTAs) that Philippines has signed with other countries, would aid them in raising their export turnover in spite of the impact of the economic downturn.
Fibre2fashion News Desk - India
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