“Arise Plus Philippines: Empowering Trade and Market Competitiveness with EU Funding”
Arise Plus Philippines: Empowering Trade Growth and Market Competitiveness
Arise Plus Philippines, a EUR 5.8 million project funded by the European Union (EU), is making waves in the Philippine trade landscape. Launched on March 1, 2021, this initiative is not just a financial investment but a strategic partnership aimed at enhancing the nation’s trade competencies and global market access.
With a focus on fostering inclusive growth and facilitating the Philippines’ integration into the international market, Arise Plus Philippines is working closely with Philippine government agencies, particularly the Department of Trade and Industry (DTI), to support micro, small, and medium enterprises (MSMEs). These enterprises, which form the backbone of the Philippine economy, often face challenges such as inflation and intense market competition.
The key goals of Arise Plus Philippines are ambitious yet crucial for the country’s economic development. By enabling the Philippines to benefit from EU market access and the Generalized Scheme of Preferences Plus (GSP+) trade privileges, the project aims to foster economic growth and reduce poverty.
One of the project’s notable achievements is its impact on the local economy. In 2023 alone, Arise Plus Philippines facilitated 975 business leads and deals valued at USD 122.6 million, spanning various sectors such as coconut and game development. These outcomes underscore the project’s effectiveness in boosting trade and investment opportunities for Philippine businesses.
Policy development is a critical component of Arise Plus Philippines, with initiatives such as the Export Potential Assessment and the EU GSP+ Policy Study helping to identify lucrative export opportunities and markets. The project’s focus on sustainable initiatives, including regulations on deforestation and single-use plastics, aligns with global trends towards more environmentally conscious trade practices.
Moreover, Arise Plus Philippines is positioning the Philippines as a leader in global investment facilitation through initiatives like the Investment Facilitation Needs Assessment. By evaluating compliance with the World Trade Organization’s Investment Facilitation for Development instrument, the project is paving the way for smoother and more transparent investment processes in the country.
The project’s support for the Bureau of Customs in adapting to e-commerce demands and strengthening the Authorized Economic Operator framework demonstrates its commitment to modernizing trade practices in line with global standards. These efforts are crucial in ensuring that Philippine businesses can effectively navigate the complexities of the EU market and capitalize on emerging opportunities.
As the project progresses, Arise Plus Philippines continues to engage stakeholders, including MSMEs and various DTI bureaus, to ensure that its impact is felt across the Philippine economy. With the ongoing EU-PH Free Trade Agreement negotiations on the horizon, the timing of this initiative could not be more significant in shaping the future economic landscape of the Philippines.
In conclusion, Arise Plus Philippines is not just a project but a catalyst for change in the Philippine trade sector. By empowering businesses to expand globally and thrive in competitive markets, this initiative is laying the groundwork for sustainable economic growth and prosperity in the country.