A top official of the Business Once Global Trade Center (BOGTC) has encouraged Filipino exporters to tap the huge Chinese market, the world’s second largest economy with over a billion population.
BOGTC chief executive officer Henry Huang said business opportunities abound particularly for manufacturers of furniture, fashion accessories, home decors, processed fruit and seafood.
Chinese consumers prefer to buy imported products particularly something with quality as buyers have issues against their locally-made products, such as problems in safety, credibility and quality.
To effectively tap the Chinese market, Huang advised Filipino exporters to establish good linkage with Chinese traders through participating in shows and conferences specifically designed for imported products such as the Business One GTC.
China is likewise expected to have an increasing demand for imported goods owing to its rapidly growing middle-class market and more affluent lifestyles.
Other Chinese sectors that offer tremendous opportunities are garments and agriculture, particularly farm and fishery exports.
Philippine furniture makers and Christmas décor producers intend to focus on China as well as other countries which are part of the so-called BRICS (Brazil, Russia, India, China and South Africa) emerging markets group.