This is actually the first time I have attended an Export Management conference, and it’s a good thing, always nice to learn something new in this field. As young as I am, I still have a lot to learn before I can produce and eventually export my own products. I didn’t really think about what to expect before hand, but I knew I was looking forward to great talks from people who have ‘been there and done that’ before. And to hear that it is time for us, the new generation, to come up with something great to offer to the world market and beyond.
So anyways, my favorite part of the conference was actually the talk by the first speaker, Ms. Luz Suplico Jeong. From her presence alone, you can tell that she is one of those people who have gone wise through the years and have had tons of experience (30 years in fact) in the field of export. I also feel that exporting really is her passion, and this is one of the main reasons why she managed to become so successful. Anyhow, it is good that whenever she gave advice, she was able to back it up with actual facts. Just from the data she presented, she was able to come up with awesome tips for us future exporters from the Philippines.
First, exporters have to ‘diversify products’, mainly because overdependence in on one product (such as electronics which account for 60% of Philippine exports) leaves us vulnerable when demand decreases. With this, she told us that it might be good to look into developing service exports so there will be no need for labeling, containers, freight cost, tariff, and other things related to shipping goods; but of course with services there is also a greater need to satisfy the customer. Anyways, it is good to know that there is a body that comes up with rules for trade in services, namely General Agreement on Trade in Services (GATS). When I think of Exporting, the first thing that comes to mind is dealing with tangible products, so I definitely learned something new here. Maybe I would look into the service exports and see how I can make use of world class Filipino labor.
Next, she told us that the Philippines should also ‘diversify markets’ seeing as overdependence on one market (i.e. U.S.) leaves us vulnerable when that market is hit, by let’s say, a recession. Our exports actually fell from 50B to 38B just because of the U.S. housing bubble in 2009. We can see from her just how important it is to also export to emerging markets such as Brazil, Russia, India, and China (BRIC). This definitely makes a lot of sense to me, that way there would also be less export competition. More and more borders are coming down, so it is time to venture into less crowded markets and see how we can earn from there.
Then she also talked about how important it is to always be ‘prompt with deliveries’, especially if you do not want to be fined. Like for example that you have to deliver within 30-60 days upon receiving the Letter of Credit (LC). If I am the customer, I would of course want to see my goods delivered on time; I feel that this is a good way to forge trust. It’s always nice to make a good first impression and deliver.
After that, she related to us why there should be ‘continuous product development’ especially in this fast paced world. Through a notable person, namely Kenneth Cobonpue, she was able to elaborate the importance of continued innovation, and how it has worked amazingly for him so far. One day I’d like to also be known for a product, must be nice to know that people appreciate your work. I’m glad for Kenneth’s success; it only proves that the Filipino is also capable of coming up with world class products.
Lastly, she talked about why one must ‘consider civic oriented groups’ seeing as more and more people are becoming aware of people’s contribution in making the world a bad place to live in. You should make sure that your export products are in no way responsible in drastically harming the environment. It is important to preserve life and protect endangered faura and fauna. Since I was young I have always been an environmentalist. I’m easily angered when needless harm is done to the environment and I always try to look for ways to conserve and recycle. When I start my own export business, I will definitely make sure to follow environment friendly standards.
With everything she told us, I thought the most important thing she imparted on us were these words, “To whom much is given, much is required”. One day, I would like to give back my share to the world.
Now there were also other people who talked in front, such as students who presented unique products they have come up with. I’m actually pretty excited of coming up with my own product in the future and then defending it in front of a panel like that. Who knows, maybe it could be the product that can make me as famous as Kenneth Cobonpue! I like subjects with practical applications in the real world, and coming up with my own product to sell is definitely very practical.
All in all, I have learned a lot from the Export Management Conference, and I am looking forward to more seminars in the future. It would be totally awesome to hear more success stories in the field I’m in, the field of export marketing. Little by little, Filipinos are taking over the world, and I hope I can be one of them.
