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PH-ROK trade and economic cooperation
« on: February 17, 2017, 01:05:43 PM »
PH, ROK TRADE MINISTERS DISCUSS WAYS TO ADVANCE TRADE AND ECONOMIC COOPERATION. Philippine Department of Trade and Industry (DTI) Secretary Ramon Lopez (R) and Republic of Korea (ROK) Minister for Trade, Industry and Energy (MOTIE) Hyunghwan Joo (L) discussed ways to strengthen PH-ROK trade and economic cooperation in a meeting on 13 February in Makati. Sec. Lopez imparted to the ROK side DTI’s priorities as chair of the ASEAN Economic Ministers’ Meeting, including the desire to conclude the Regional Comprehensive Economic Partnership (RCEP), which will link ASEAN, an economic powerhouse with a market of 600 million people, to its six Dialogue Partners, creating a bigger market of 3.5 billion people. For its part, ROK sought help from the Philippines, as current chair of ASEAN 2017, to fast-track completion of ASEAN-ROK Free Trade Area, a strong platform to boost bilateral trade relations, by increasing frequency of holding negotiations. ROK also sought ways to facilitate bilateral investments through matchmaking events between both sides to boost investment attraction, focusing on the countries’ priority sectors. (END)

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