<\/p>\n
PRESIDENT Ferdinand R. Marcos Jr. said the Philippines is seeking more trade with South Korea (SoKor) to further boost relationships between the two nations.<\/strong><\/p>\n <\/p>\n <\/p>\n Increasing the exchanges between the Philippines and SoKor will benefit both countries, according to the Chief Executive.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cWhat we are now trying to do is to promote the partnerships that we have begun in the past so that the exchange between our two countries will increase and will be mutually beneficial to both the Republic of Korea and the Republic of the Philippines,\u201d he told the Maekyung Media Group at the Malacanan Palace on Thursday.<\/strong><\/p>\n <\/p>\n <\/p>\n President Marcos said the existing relationship between the Philippines and Sokor is already robust.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cThe relationship between our two countries has been ongoing for 75 years now, and this has been a very important partnership for the Philippines, and I think, also for the Republic of South Korea,\u201d President Marcos said, adding that the two countries share the same efforts to maintain their strong ties.<\/strong><\/p>\n <\/p>\n <\/p>\n Optimistic on the Philippines\u2019 trade with Sokor, the President is expecting the ratification this year of the free trade agreement (FTA) signed by the two countries even though SoKor\u2019s national assembly has yet to approve it.<\/strong><\/p>\n <\/p>\n <\/p>\n He said the FTA could give Philippine products reduced tariff rates in the Korean market.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cI think so. I think we will get it done. I think we will get it ratified \u2026it\u2019s important to us,\u201d President Marcos said in an interview with Maeil Business Newspaper chairman and publisher Chang Dae- Whan.<\/strong><\/p>\n <\/p>\n <\/p>\n Further, the Philippines wants a separate future agreement with South Korea to encourage the East Asian country to allow some of our products to have duty-free access to its market, the President explained.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cWe are negotiating a separate future agreement with the Republic of Korea to encourage them to allow some of our products to be included in the reduced tariff products. We also hope that we can negotiate with South Korea better terms,\u201d President Marcos told the business newspaper.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cThere are many areas, the semiconductor, the automotive parts. Fruits, we\u2019re already exporting many great fruits to Korea,\u201d he said, adding that tropical fruits like avocados included by South Korea on its products list could have reduced tariff rates.<\/strong><\/p>\n <\/p>\n <\/p>\n The FTA is a pact between two or more nations to reduce barriers to imports and exports among them.<\/strong><\/p>\n <\/p>\n <\/p>\n Under a free trade policy, goods and services can be bought and sold across international borders with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.<\/strong><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" PRESIDENT Ferdinand R. Marcos Jr. said the Philippines is seeking more trade with South Korea (SoKor) to further boost relationships between the two nations. Increasing<\/p>\n","protected":false},"author":1,"featured_media":5550,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/5549"}],"collection":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/comments?post=5549"}],"version-history":[{"count":1,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/5549\/revisions"}],"predecessor-version":[{"id":5551,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/5549\/revisions\/5551"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/media\/5550"}],"wp:attachment":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/media?parent=5549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/categories?post=5549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/tags?post=5549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}