Makati City, Philippines—The Department of Trade and Industry (DTI) has signed a memorandum of understanding (MOU) with the Philippine Retailers Association (PRA), and the Supply Chain Management Association of the Philippines (SCMAP) on November 08. This partnership strategically aligns with  AmBisyon Natin 2024, the Philippines’ long-term vision for growth in the wholesale and retail trade sector.

“Together, the DTI, PRA, and SCMAP are crafting a future where wholesale and retail industries not only prosper but create opportunities and high-quality jobs that uplift lives and build communities across the country,” said DTI Secretary Cristina A. Roque. A key outcome of this collaboration is the Section G Job Blueprint, which seeks to identify challenges and propose reforms to drive growth in the whole retail trade sector. The first draft of this blueprint will be unveiled at the 2024 Wholesale and Retail Trade Forum on 02 December 2024 in Makati City.

Section G, under the Philippine Standard Industrial Classification (PSIC), covers wholesale and retail trade and the repair of motor vehicles and motorcycles. It also includes activities centered on the resale of new and used goods to consumers, retailers, or intermediaries, encompassing the importation, distribution, and sale of a wide range of products.

SCMAP President Dennis Llovido emphasized the impact of logistics on the wholesale and retail ecosystem.

“A robust logistical framework is essential for the success of wholesale and retail operations. SCMAP is dedicated to advancing logistics best practices and innovations to ensure the smooth flow of goods across the supply chain, supporting the industry’s resilience and capacity to drive sustained economic growth in the Philippines.”

Meanwhile, PRA President Roberto Claudio highlighted the importance of collaboration in addressing current challenges and equipping the sector to capitalize on future opportunities.

“The future of the Wholesale and Retail Trade relies on the unified effort of industry and government. By addressing key issues like workforce shortages and evolving consumer preferences, we can drive long-term growth that benefits Filipinos and strengthens the sector’s role as a key contributor to national development,” President Claudio added.

The Philippine Statistics Authority reported that Section G’s contribution to the country’s gross domestic product increased from PHP 4.2 trillion in 2022 to PHP 4.4 trillion in 2023. Additionally, the sector employed 10.3 million people, making it second-largest employer after agriculture. As a major economic contributor, the wholesale and retail trade sector is vital to the broader economy, as it enables consumers with access to goods, bolsters supply chain networks, and adds considerable value to employment and GDP. ♦

Date of release: 28 November 2024

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