PH Ambassador Discusses Way Forward on Strengthened PH-ROK Economic Cooperation with ROK Minister of Trade

Left: Philippine Ambassador Theresa Dizon-De Vega and ROK Minister for Trade Ahn Dukgeun at the Korea Chamber of Commerce in Jongno, Seoul on 22 September 2023. Right: Both sides discussed the way forward to strengthen PH-ROK economic cooperation after the historic signing of the Philippines-ROK – ROK Free Trade Agreement. Amb. De Vega was joined by the Embassy economic team, Third Secretary and Vice Consul Reisha Olavario, and Commercial Counselor Jose Ma. Dinsay. (photos from Seoul PE)

SEOUL 28 September 2023 – Philippine Ambassador to the Republic of Korea Theresa Dizon-De Vega met with ROK Minister for Trade Ahn Dukgeun on 22 September 2023 to discuss strengthened PH-ROK Economic Cooperation and the next steps following the historic signing of the PH-ROK Free Trade Agreement on the sidelines of the ASEAN Summit 2023 held in Jakarta, Indonesia.

Ambassador De Vega conveyed that the Philippines shares the Republic of Korea’s excitement and sense of accomplishment on the signing of a dynamic and modern free trade agreement, the Philippines’ first bilateral FTA in 17 years. Ambassador De Vega provided updates on the processes currently being undertaken by the Philippine government for the agreement’s eventual entry into force. She thanked Minister Ahn and the ROK government for their help in moving the agreement forward and underscored that its timely signing is proof of strong PH-ROK relations. Ambassador De Vega also noted the importance of working together to engage the public and relevant stakeholders, including industry leaders, in promoting the incentives of the newly signed PH-ROK FTA.

Ambassador De Vega and Minister Ahn both believe in the importance of building the industry ecosystem together and likewise discussed ways the Philippines and ROK can strengthen trade, digital, green, energy, official development assistance, and infrastructure partnerships. Ambassador De Vega also highlighted that the FTA is also a valuable platform to strengthen PH-ROK cooperation in the creative industry aside from traditional areas of cooperation. Both sides also exchanged updates on PH and ROK's planned improvements in people mobility, sustainable transportation, and the digitalization of public records. The PH-ROK FTA signifies our shared commitment to shared values of prosperity and aspirations in advancing digital technology and the green economy.

Ambassador De Vega and Minister Ahn pledged to continue working together on the PH-ROK FTA and other areas of mutual concern to further strengthen the PH-ROK economic partnership. END

 At the end of the meeting, Ambassador Dizon-De Vega gave Minister Ahn a basket of Philippine fruits for the upcoming mid- autumn festival (Chuseok) in Korea. For the Philippines, the recently signed PH-ROK FTA opens doors to improved market access for agricultural products, such as bananas, pineapples, and various fruits. Once the FTA takes effect, Filipino agricultural producers can expect increased exports and enhanced competitiveness in South Korea’s market. (photos from Seoul PE)

For more information, visit https://www.seoulpe.dfa.gov.ph, https://www.philembassy-seoul.com  or https://www.facebook.com/PHinKorea/.