European Union (EU) member-countries are ready to buy Philippine products as their economies are experiencing growth.
In a statement, Walter Van Hattum, head of the trade section at EU delegation to the Philippines, said that the country can export a lot of products to the EU, including electronics, some agricultural products particularly coconut oil and furniture.
“I think there are plenty of opportunities. We have a market of 500 million customers [with primary income]averaging from 25,000 euros per year. So you name and then we buy it,” he said.
To effectively penetrate the huge EU market, Hattum advised Filipino entrepreneurs to coordinate with European chambers located in Manila.
“The best thing for business people [to do]is to get in touch with those chambers or with our office, European delegation. We can provide you with all kinds of information in terms of what you need to do to get into the European market,” he added.
Hattum said that it is imperative for exporters to partner with people who can import their products.
In July this year, Philippine exports to EU’s 28 member-states shared only 11 percent of the country’s total merchandise exports valued at $532.99 million.
Biggest buyers of Philippine products during the month were East Asia, which accounted for 48.5-percent share to total exports, and Association of Southeast Asian Nation member-countries with 15.9-percent share.