The Philippines has already reached $7 million in sales on the first day of its participation at the international expo in China, Department of Trade and Industry (DTI) officials reported on Tuesday, Nov. 7.
Organized by the DTI’s Export Marketing Bureau (EMB), Philippine Trade and Investment Center (PTIC)-Shanghai, and Center for International Trade Expositions and Missions (CITEM), the Philippines was able to participate in the 6th China International Import Expo (CIIE) held at the National Exhibition and Convention Center in Shanghai, China from Nov. 5 to 10.
In a Zoom meeting led by DTI Undersecretary Ceferino Rodolfo, CITEM said that the Philippines has already generated $7,734,290 in sales including booked and under negotiation orders on the first day alone of the exhibition. The initial value was based on the reports from 14 participating companies.
CITEM emphasized that its first-day sales already exceeded its internal $7 million sales target for processed products alone.
PTIC-Shanghai Commercial Counselor Glenn Peñaranda said they are targeting overall sales of $700 million from the country’s participation in this year’s CIIE, from last year’s total revenue of $655.145 million.
As the event was held physically for the first time since the pandemic, Peñaranda said they were able to engage with buyers who expressed “very strong interest” and appreciation in the quality of Philippine products, emphasizing the Philippine market in China.
Notably, best-selling products include fresh pineapples, fresh durian, Cavendish banana, coconut-based products, and marine products like shrimp and fish, as of the first day.
Additionally, purchasing agreements on the first day of the expo have reached $603 million for different featured products in the Philippine Pavilion.
These products include fresh produce such as durian, banana, and pineapple; processed foods such as banana chips, dried mangoes, dried durian, and coconut water; marine aquaculture products; and other coconut-based nonfood products.
For this year’s participation, the country is represented by 16 large exhibitors in the food sector including Century Pacific Agricultural Ventures, Inc.; Fisher Farms, Inc.; Lionheart Farms Philippines Corporation; Profood International Corporation; Republic Biscuit Corporation; Sam Lim Corporation; See’s International Food MFG. Corp.; Avante Agri-Products Philippines, Inc.; Durian Industry Association of Davao City; Eng Seng Food Products; Eng Seng Group of Companies, Inc.; Excellent Quality Goods Supply Company; GERB Golden Hands; Maylong Enterprises Corporation; Gacayan General Merchandise; SQ Fresh Fruit Corporation.
Three companies from the micro, small, and medium enterprise (MSME) sector have also been featured, namely Organix Solutions, Inc.; Bebebalm; and B&C Healthy Snack Food, Inc. These were supported by the International Trade Center which represents small businesses from 31 developing countries at the CIIE 2023.
The DTI has also partnered with the Department of Agriculture - Office of the Agriculture Counselor in Beijing (DA-OAC Beijing), Philippine Exporters Confederation, Inc. (PhilExport), and the Federation of Filipino Chinese Chambers of Commerce & Industry, Inc. (FFCCCII), and Philippine Airlines (PAL).