PH should get big bite out of $2.5-trillion Asean food market: Villar
Sen. Cynthia Villar called for more competitiveness for the food industry in order to capture a big chunk of the $2.5-trillion Asean market.
Villar said Asean has a combined population of 617 million and an aggregate economic size (GDP) of $2.5 trillion, growing at an average of 5.3 percent in recent years.
“We have a huge potential in the food sector. We just need to enhance our competitive advantages,” said Villar, chair of the Senate agriculture and food committee.
She said the Philippines is well-positioned to corner a big chunk of the market.
She said raising the standards of food products will make Philippine products globally competitive.
She added that Mindanao could be the Philippines’ gateway to Asean, especially with the passage of the Philippine Halal Export Development and Promotion Act of 2015.