PH Highlights Strategic Economic Opportunities with Korea at 2024 Segye ASEAN Forum
Left and below, right: Undersecretary Ceferino S. Rodolfo underscores no two economies are as complementary as that of the Philippines and the Republic of Korea. Top right: The Philippine delegation to the 2024 Segye Ilbo forum from L-R: Commercial Attaché Charmaigne Mignon S. Yalong, Undersecretary Ceferino S. Rodolfo, PH Ambassador to ROK Theresa Dizon-De Vega, Third Secretary and Vice Consul Reisha Olavario, Senior Trade Assistant Aija Jeon, and organizing members of the 2024 Segye ASEAN Forum.
SEOUL 22 November 2024 - The Philippines was honored to be the featured country of the 2024 Segye ASEAN Forum held at the International Conference Hall of the Seoul Press Center on 30 October 2024. The forum was held in commemoration of the 75th anniversary of diplomatic relations between the Philippines and the Republic of Korea and aims to enhance trade and investment between the two nations upon the implementation of the Philippines-Korea Free Trade Agreement (FTA) this year.
The Philippines’ top economic officials participated in the forum where they underscored the dynamic trade and investment opportunities for the Philippines - Republic of Korea relations. Secretary of Trade and Industry Cristina Aldeguer Roque delivered the welcome remarks through a video presentation.
Ambassador Theresa Dizon-De Vega in her congratulatory remarks emphasized the vibrant prospects of economic cooperation between the Philippines and the Republic of Korea, as we have just recently elevated our relations to that of a Strategic Partnership. The Ambassador likewise underscored that Korean investors can benefit a lot from the PH-ROK Free Trade Agreement, set to take effect within the year.
DTI Undersecretary Ceferino S. Rodolfo of the Industry Development Group (IDG) and Chief negotiator of the Philippines-Korea Free Trade Agreement delivered a presentation on the strategic economic opportunities between the Philippines and the Republic of Korea, highlighting that both nations have complementary economies and that strategic opportunities are available in manufacturing and critical raw minerals processing, innovation, digital transformation, connectivity. He noted that space economy and space technology utilization, climate change mitigation and adaptation and a just transition to clean energy are among critical areas for engagement. This was followed by a presentation on the measures that will enhance economic cooperation between the Philippines and the Republic Korea following the ratification of the FTA, delivered by Philippines Investment and Trade Center Commercial Attaché Charmaine Mignon S. Yalong.
Philippine Department of Agriculture Information and Communications Technology Chief Xerxees Remoroso also presented the importance of leveraging digital technology and mutual cooperation to strengthen Philippines - ROK agriculture products supply chain in response to climate change.
The 2024 Segye ASEAN Forum highlighted that both countries are active participants in the Indo-Pacific Economic Framework (IPEF), established in 2022, where the Philippines plays a vital role in key areas such as supply chain development, clean energy, decarbonization, and infrastructure. The presentation of Philippine national agencies was complemented by reactions and recommendations from a pool of Korean Economic experts from esteemed organizations such as the Trade and Economic Committee of the National Assembly, represented by the Hon. Lee Jae Kwan and Hon. Park Jun Tae, the Korea International Trade Association (KITA) and the Korea Institute for International Economic Policy (KIEP). END
Below left: As tourism is a major economic driver for the Philippines and the Republic of Korea, Undersecretary Ceferino S. Rodolfo also visited the Philippine Department of Tourism office and showroom in Jongno-gu, Seoul after the forum where he was welcomed by PDOT Director Corazon Jorda-Apo. Right: Undersecretary Rodolfo with Ambassador Dizon-De Vega during the forum.
For more information, visit https://www.seoulpe.dfa.gov.ph, https://www.philembassy-seoul.com or https://www.facebook.com/PHinKorea/.