Former Defense Secretary and senatorial candidate Gilbert ‘Gibo’ Teodoro encourages companies to find local sources or alternatives for their raw materials, while consumers are urged to buy Filipino brands to sustain the country’s recovery from the pandemic.

Gibo Teodoro, a former Tarlac congressman, said buying local supports domestic sectors, which is now crucial to counter the spill over effects of the ongoing conflict between Russia and Ukraine. Amid the Russia-Ukraine clash, global trade now faces disruptions and prices of commodities in the international market are rising.

“We just started to fully open our economy after the series of lockdowns due to previous surges in Covid-19 cases. However, we are not spared from economic impacts of the ongoing conflict between Russia and Ukraine,” Gibo Teodoro said. “This could counter our recovery efforts. (But) being a consumer-driven economy, we can cushion the impacts of global trade disruptions and higher commodity prices in the world market by finding sources and alternatives of the raw materials or products that we use from local enterprises and farmers.”

Gibo Teodoro, the 1989 Bar topnotcher, added that with the increasing prices of commodities in the world market, prices of products produced by local industries can now compete with imported products.

“By sourcing from local businesses, we support their growth. And when they expand, they invest in their capacities to improve quality and become more competitive in order not to lose their market,” Gibo Teodoro said. “This is how we can support each other as we hurdle threats of slower economic recovery due to the ongoing conflict outside the country.” (gibo.ph)