A new study by the International Trade Centre reveals the Philippines' significant potential to export solar panels to major markets like the US, China, and Germany. The report suggests that focusing on market intelligence, strengthening regulatory compliance, and attracting foreign investment can unlock this potential.
The Philippines has an untapped export potential of $788.4 million in solar panel shipments, according to a paper published by the International Trade Centre (ITC), a joint agency of the World Trade Organization (WTO) and the United Nations. The paper highlights the opportunity for the Philippines to revive its solar photovoltaic (PV) module manufacturing sector. It identifies key markets for Philippine solar component exports, including the United States ($189.4 million), China ($171.
6 million), the Netherlands ($64.7 million), Vietnam ($46.4 million), and Germany ($43 million). To capitalize on this potential, the ITC emphasizes the need for countries to invest in market intelligence tools to bridge data gaps, actively engage with manufacturers and traders of components, and focus export promotion strategies on high-potential renewable energy (RE) components.The paper underscores that fulfilling non-tariff requirements in target markets will be crucial for exporters. Access to major markets is generally duty-free, so compliance with these requirements will determine market access. The ITC recommends developing countries invest in strengthening their capacity to meet both technical and non-technical regulations. Furthermore, the paper suggests several key policy considerations for developing countries to facilitate trade in solar PV and wind energy components, including establishing national regulatory standards for RE goods, investing in regional value chains, developing quality infrastructure and skills, and promoting foreign investment in RE value chains. Leveraging trade agreements to attract foreign investment and facilitate the entry of professionals is also highlighted as crucial. The ITC encourages developing countries to negotiate effectively for favorable trade terms and requirements within trade agreements. The study also identifies future research priorities, such as documenting success stories of developing countries integrating into RE value chains, analyzing the impact of trade policies on critical mineral supply and RE deployment, and examining the role of quality and standards infrastructure in building competitive RE sectors
Solar Panel Exports Renewable Energy International Trade Philippines Export Potential Trade Agreements
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