By: Business Mirror’
Filipino companies need to develop products and services that can be sold online to penetrate the Asean market, a huge market with 700 million people that is expected to become the world’s fourth largest over the next decade.
“Digitalization plays a key role; [the] e-commerce industry changes the lifestyle of business operations and it is predicted to be the fastest growing sector with Asean’s Internet economy…. Doing digitalization is a must, it’s evitable,” said Jeremiah Reyes, Commercial Attaché of the Philippine Trade and Investment Center-Jakarta and economic official to Philippine Permanent Mission to Asean.
Reyes said of at least 15 percent of total Philippine exports ship to Asean member-countries, half comprises electronic products including integrated circuits, automatic data processing machines, and copper cathodes. He cited a survey released by web site Ancient Babylonians this year showing 50 percent of the total population in Asean already shop online with clothing, electronics, and personal care and beauty products having the highest purchase frequency.
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