BUSINESS groups on Thursday said the Iran War ceasefire buys time for traders and the government to help keep the economy going.
“The two-week opening of the Strait [of Hormuz] is an opportunity for the Philippines to secure vital imports. We need buffer stocks for any possible disruptions,” Philippine Chamber of Commerce and Industry president Ferdinand Ferrer said in a statement.
This means ensuring sufficient supplies of oil and fertilizers, underscoring the need for coordinated logistics, transparent communication, and contingency planning, Ferrer noted.
“For Philippine exporters and importers, this provides a brief but crucial opportunity to stabilize logistics schedules, clear backlogs, and mitigate further cost escalations,” Philippine Exporters Confederation Inc. president Sergio Ortiz Luis Jr. said.
He reminded that the ceasefire is temporary.
“Exporters are particularly concerned about the unpredictability of freight rates and delivery timelines, which directly impact our competitiveness in the global market,” Ortiz-Luis said.
He called on the government to “closely monitor fuel price movements, explore targeted support measures for affected sectors, and strengthen engagement with international partners to ensure the continued flow of trade.”
Meanwhile, Management Association of the Philippines president Donald Lim told The Manila Times that businesses should “remain cautious and continue preparing for possible volatility in fuel costs, logistics, and supply chains. For Philippine firms, this is a reminder to strengthen contingency plans, diversify supply sources, and improve energy efficiency while the situation remains fluid.”
