Buyers President Robert M Young said exports this year were ‘surprisingly good’ due to advance deliveries meant to cushion the impact of the US reciprocal tariff.
“Revenue is expected to hit $1 billion from around $800 million in 2024,” he said in a statement.
“They are still asking for some adjustments, and they are trying to talk to Washington about decreasing the 19 per cent (tariff), as President Trump did with three countries. Some were even reduced to zero,” he said.
“I hope we can also have that kind of treatment, and if that happens, that will be the best thing for us,” he was quoted as saying by domestic media reports.
He said the industry has been exploring other markets, including the European Union, the Association of Southeast Asian Nations (ASEAN), Canada and Australia.
“We are requesting more FTAs because I think among the ASEAN countries, we have the least number of FTAs,” he noted.
The association is seeking government subsidies for power and labour expenses to help offset the rise in input costs and make the industry’s products more competitive.
ALCHEMPro News Desk (DS)
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