THE Department of Trade and Industry (DTI) has welcomed an expected executive order (EO) that would implement the Philippines-South Korea free trade agreement (PH-KR FTA) notwithstanding ongoing political conflict in Seoul.
THE Department of Trade and Industry has welcomed an expected executive order that would implement the Philippines-South Korea free trade agreement notwithstanding ongoing political conflict in Seoul. Trade Undersecretary and lead negotiator Allan Gepty expressed optimism that things were on track after the EO was approved by the National Economic and Development Authority Board.He said the EO was essential for the FTA's full execution.
One of the biggest beneficiaries will be the Philippines' banana industry, Gepty said, 'as will help the industry maintain its competitive advantage in South Korea, and pave the way for more economic cooperation in key areas like agriculture, creative industries, and innovation.'Asked about the potential disruptions from recent political developments in South Korea, Gepty said the FTA's progress 'will not be affected.
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