Do you know that Vietnam's exports ($169 billion) are much bigger than Philippine exports ($56 billion)?
Another lesson we can learn from Vietnam is in the pursuit of economic growth. Move on from the past! Vietnam has moved on from their ten-year war with America which happened from the mid 60s to 1975 so America is now their no. 1 export market. Let's not talk anymore about the Philippine American War and focus on the present.
Here's Vietnam's export profile: "The United States continued to be Vietnam's largest export market, with US$28.5 billion. The EU is second with US$27.9 billion, ASEAN is third, China is fourth and Japan is the fifth largest export market of Vietnam." Repeat, US and EU are Vietnam's top export destinations. Vietnam's 2016 Exports amounted to $169.2 billion (2016) compared to the Philippine level of only US$56.3 billion for same year. Vietnam has really maximized their trade with the US and EU. How can we duplicate this?
Here's Philippine export profile: "Japan (21 percent), the United States (15 percent), China (12 percent) and Hong Kong (8 percent)." Philippines shipped US$56.3 billion worth of goods around the globe in 2016.
May I ask NEDA Sec. Ernesto Pernia to validate the above figures. My sources may be wrong.
But whatever, I am sure we need to do more work to improve our exports to the US and EU. My little knowledge of economics from UP tells me international trade and foreign policy are intertwined.