01 July 2019
By Philexport News and Features
Published also in Business Mirror
LOCAL chemical firms expect to register a modest export growth of five percent this year as importers, particularly Europe, impose stricter quality requirements.
Oscar Barrera, trustee for the chemicals sector of the Philippine Exporters Confederation Inc. (Philexport), pointed out Europe prescribes exporters to register six months prior to export, and is strict on chemical qualifications and requires international certifications.
“So if you are just a small medium-sized company, you get discouraged to go through all that things which are basically regulatory requirements,” he said.
But Barrera said industry players are working to increase export revenues while also tapping the domestic market. Chemical exports now comprise a measly five percent of the country’s total export industry, he added.
Barrera noted that companies engaged in the production of beauty products and essential oils are the ones “doing well” in the overseas markets, especially in Europe and Hong Kong.
“The local market is still there. That’s our hope. Local lipstick, local cream, beauty lotions, formulations, that’s what we are hoping; we keep increasing,” he said.
Meanwhile, the Philippines The Philippines has one of the most amazing biodiversities in the world, and the richness and uniqueness of our ecosystem needs to be protected because it is key to the survival and growth of businesses and industries, according to an environmental expert.
Dr. Theresa Mundita Lim, executive director of the ASEAN Centre for Biodiversity (ACB), said enterprises should start mainstreaming biodiversity into their operations rather than just making it a part of their corporate social responsibility.
Chemical firms eye 5% export growth
Mainstreaming biodiversity is the process of embedding biodiversity considerations into the policies, strategies and practices of businesses so that biodiversity is conserved and sustainably used, Lim said, who spoke at a recent environment forum organized by the Philippine Chamber of Commerce and Industry.