Chemical firms eye 5% export growth

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.

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