The Department of Trade and Industry (DTI) signed Friday a memorandum of understanding (MOU) with the Philippine Retailers Association (PRA) and the Supply Chain Management Association of the Philippines (SCMAP) to bolster competitiveness and growth of the wholesale and retail industry.
The partnership aims to address key challenges in the sector, promote job creation and lay out a roadmap for the industry’s sustainable development.
The wholesale and retail sector is a significant contributor to the Philippine economy, accounting for about P4.4 trillion in gross domestic product in 2023, up from P4.2 trillion in the previous year. It also employs over 10 million Filipinos, making it the second-largest employer in the country after agriculture.
Recognizing its vital role, acting Trade Secretary Ma. Cristina Roque emphasized the need for continued innovation and policy development to maintain the sector’s momentum.
“The wholesale and retail trade sector is at the heart of our economy. With the collaboration between DTI, the PRA, and SCMAP, we are positioning the sector to thrive in an increasingly digital and competitive global market,” she said.
A key component of the partnership is the development of the Section G: Job Blueprint for Wholesale and Retail Trade, a strategic framework designed to foster job creation, enhance supply chain integration, and promote digital transformation.
The blueprint will be a cornerstone of the upcoming 1st Wholesale and Retail Trade Forum, which will bring together stakeholders from various sectors to discuss the industry’s future and explore solutions to current challenges.
The forum is expected to serve as a landmark event for the industry, with discussions on enhancing market access for Filipino products and integrating digital technologies into retail operations.
