ERJ staff report (LMH)
Quezon City, Phillipines - The Phillipine Department of Trade and Industry (DTI) is organising the first business event that will bring together at least 300 participants from the rubber industry, the government, and market experts, and address current challenges confronting them.
â€œWe will hold the 1st Philippine Rubber Investment and Market Encounter (PRIME 2012) to essentially be business platform for investment matching, market matching, technology exhibit, financing facilitation and product showcase,â€ said DTI Undersecretary for Regional Operations and Development Merly Cruz.
He added, â€œWe will also address key issues in production efficiency and sustainability including compliance to industry standards.â€ The event will be held 18-19 Sept.
The event participants are experts, policy makers, rubber producers, processors, traders and exporters, manufacturers such as Yokohama Tire Philippines Inc. (YTPI), and members of the Philippine Rubber Industries Association, Inc. (PRIA) and The PRIA is an association of manufacturers of rubber products, processors of natural rubber and traders of rubber raw materials and supplies, DTI said in a 12 Sept news release.
DTI cited industry sources as reporting that about 85 percent of the total Philippine production of natural rubber is exported, and only 15 percent are sold for domestic consumption. However, official data indicates that more than 70 percent are sold in the domestic market and only about 30 percent are exported.
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Press release from DTI