The Philippines is one the most strategically positioned countries, making the archipelago among the best exporters and importers trading locations. The Philippines shares maritime borders with several neighboring top import nations like Japan and Indonesia, and despite being farther, the United States also engages in trading with the country.
Expanding your company’s reach to the Philippines can benefit your business’s growth. The Philippine economy continues to grow and diversify to reach its numerous islands, paving the way for a vast market of 109 million total population. International forwarding agencies can help open a door of opportunities you might not experience anywhere else.
But just like any other country, the importation of products into the Philippines is subject to strict customs regulations, duties, and taxes. They will most likely block you from bringing your products into the country if they find discrepancies in your documents. Therefore, if you are exporting for the first time, you might encounter several difficulties.
Often, not all companies are aware of the changes made to rules and required documents. Due to the COVID-19 pandemic and the ongoing war between Ukraine and Russia, freight fuel costs have increased and forced ships to make shorter routes through other countries. New routes mean new documents; if you are not updated, you might find it harder to ship your products.
But you donot have to struggle with figuring out the complexities of importation to the Philippines. For instance, you can hire a reliable customs brokerage firm to guide you with the necessary actions you must take. They are aware of foreign companies’ challenges when exporting goods, such as language barriers and document processing procedures.
Customs brokers can ensure your shipments arrive in the Philippines and are delivered on time. Their services also help keep costs down. With crises continuing to affect the global trading system, customs brokers have become more crucial than ever.
If you want to know what you will need to import your products into the Philippines, take your time to read this informative blog by Excelsior.