PH has huge untapped export potential to EU

THE Confederation of Danish Industry (DI) has recently announced that the shipment of goods to Denmark has increased significantly.

According to recent data, there was over 146 percent increase in Philippine exports to Denmark in 2021.

According to Gry Saul, senior advisor of Global Development and Sustainability at DI, this is no surprise as the Philippines’ actual exports to the European market have reached more than $9.1 billion but noted could be so much more.

Saul said this indicates that the Philippines has a huge amount of untapped potential that it can export to the European Union.

“The potential value of exports that could be reached is around $15 billion. In order to capitalize on that, you really need to be able to live up to the requirements from the EU with regards to sustainability and responsible business conduct,” she said in a webinar.

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Saul said an example of Philippine products which have the potential to export to Europe is electronics.

Data show that other products with realized potential are projectors, other office machines and computer data storage units.

“So we are actually doing business together, our two countries. And we really see the great demand within the electrical machinery and appliances, but also in the manufactured article. And the Danish exports to the Philippines are mostly within the meat and dairy production,” she added while mentioning that the biggest potential for example is exporting bananas, fresh or dried, to the EU.