PH, SKorea launch FTA talkshome/Business/Top Business/PH, SKorea launch FTA talksImproved economic relation is seen between the Philippines and South Korea as the two countries formally signed on Monday an agreement to begin negotiations on free trade deal. On the sidelines of the FTA negotiations launch, the first meeting for the Joint Commission on Trade and Economic Cooperation (JCTEC) between the Philippines and South Korea was held as well. Philippine banana exports to South Korea currently have a 30 percent tariff. Most of the exports of the Philippines to South Korea were bananas, pineapples and copper. Investment pledges — mostly on real estate and manufacturing — from South Korea reached $35.79 million last year.

Source: Manila Times June 03, 2019 16:20 UTC