THE projected value of the country's hard goods and garments exports will remain flat at $900 million in 2025, according to the Foreign Buyers Association of the Philippines (Fobap), a 44-year-old group that sources Philippine-made products.
Among the proposed remedies are the reauthorization of the United States' Generalized Scheme of Preference and the negotiation of a free trade agreement (FTA) with the US. "In garments, [export sales] could go even lower because we cannot anymore supply the buyers with the quantity due to prices," Fobap president Robert Young said in a statement released by the Philippine Exporters Confederation Inc. (PhilExport).
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