Pushing the agribusiness trade | BusinessWorld
Friends ask me: Where do we invest post-COVID-19? Despite potential, agricultural export is stuck at around $7 billion. But agricultural imports are near $11 billion or a trade deficit of $4 billion. The Philippines lags its ASEAN peers, most of which have trade surpluses. There is no magic wand to reverse this disadvantage. But we have to start somewhere. It’s a mix of medium-term and long-term. There are two aspects of agricultural trade: import substitution and export promotion. IMPORT SUBSTITUTION This strategy focuses on boosting domestic production to be able to substitute for imports...
Source: bworldonline.com