Trade between the Philippines and 11 other Asian markets could triple by 2030, according to the latest research conducted by a US logistics firm.
In an industry study released by the Sandy Springs, Georgia UPS titled “Clearing the Runway for Intra-Asia Trade,” trade growth drivers, potential headwinds, and multi stakeholder action were identified as the factors that could unlock the 2030 opportunity for the Philippines.
UPS said Philippines has the potential to build on the rapid growth in the previous decade, particularly in the manufacturing sector, which could see trade with the Asia 12 more than triple from $ 113 billion in 2020 to $393 billion in 2030. “The IM and A segment stands to be the largest by value in 2030, more than trebling from 2020 levels as the country aims to serve as a global and regional hub for the automotive and electronics sectors,” UPS said.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Xi invites C.Asian leaders to first summit in ChinaALMATY, Kazakhstan - China's Xi Jinping this week invited the leaders of the ex-Soviet republics of Central Aisa to a first joint summit in China, a bid to boost Beijing's influence in Russia's backyard.
Read more »
Injecting new life into Asian Hospital | Anne Ruth Dela CruzHe was just leaning to enjoy retirement when he received a call from the former Human Resources director of MSD who had joined Metro Pacific Health (MPH), the largest private hospital operator in the Philippines. It has a nationwide portfolio of 19 hospitals, supported by two allied health colleges, a…
Read more »
PHL agri trade deficit widens to $3.22B in Q4 | Raadee S. SausaThe Philippines, a net food importer, widened its agricultural trade deficit by 36.3 percent year-on-year to $3.22 billion in the fourth quarter of 2022, according to the latest data from the Philippine Statistics Authority (PSA). PSA data showed that the country incurred the deficit as its food imports outpaced its…
Read more »
Kid accuses police of hurting mother to force confession on drug trade involvement“Doon po kinuha iyong envelope sa pagupitan. Inakbayan po si Mama, tinatawag ako, [ang sabi] mabait raw po sila kaya pumunta sa amin. Maya-maya sumakay na po kami sa kotse. Sinasabihan si Mama, [na] di nakakasabi ng totoo, sinasabunutan po siya, sinasaktan po,” the boy told lawmakers.“Umikot -ikot na po kami umistop po kami sa madilim na lugar nandun po. Pag di po siya (Mama) nakasagot, sinasabunutan po siya,” he added.
Read more »
DENR Bicol launches 2nd Yamang Gubat Trade FairMANILA, Philippines — The Department of Environment and Natural Resources (DENR) Bicol on Tuesday launched its 2nd Yamang Gubat Trade Fair to encourage sustainable use of forest resources for
Read more »