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More Philippine tropical fruits will enter the South Korean market once the free trade agreement between the two countries takes effect
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President Ferdinand Marcos, Jr thanked Korea’s National Assembly for ratifying the FTA much earlier than expected
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Once implemented, the FTA will see the elimination of the current 30% tariff on bananas within five years, while the 36% tariff on processed pineapple will be removed in seven years
More Philippine tropical fruits will enter the South Korean market once the free trade agreement (FTA) between the two countries takes effect, President Ferdinand Marcos, Jr. said recently.
The FTA takes effect “very soon,” said the president. When it happens, fruits such as bananas and pineapple will enter the South Korean market, on top of vegetables that are already exported there.
Marcos announced the breakthrough during the ceremonial turnover of the Korea Partnership for Innovation of Agriculture (KOPIA) Greenhouse and Postharvest Facilities in Lucban, Quezon on November 29.
Marcos thanked Korea’s National Assembly for ratifying the FTA “which came much earlier than we had expected.”
The FTA was ratified by the Philippine Senate on Sept. 23, while the Korean National Assembly ratified the pact on Nov. 14.
READ: PH, South Korea sign free trade agreement
Under the FTA, the Philippines seeks zero tariff on tropical fruits such as bananas and pineapple, which are two of the country’s principal exports to Korea.
Once implemented, the FTA will see the elimination of the current 30% tariff on bananas within five years, while the 36% tariff on processed pineapple will be removed in seven years.
Marcos told South Korea’s leadership: “You have reinforced our call for a brighter and more sustainable future for all. We celebrate this success as a testament to the enduring relations between the Philippines and the Republic of Korea.”
The president added that for 75 years, “our two nations have journeyed together, united by friendship, shared values, and a common aspiration: to uplift the lives of our people.”
Marcos thanked the government of South Korea for its continued belief in the Filipino people and its continued support, including such initiatives as the KOPIA Greenhouse and Postharvest Facilities.
KOPIA is the largest agricultural research and development organization in South Korea. It facilitates the transfer of Korean agriculture technology to farmers in developing countries to help them raise their income. They also teach them to raise high-value crops to improve and sustain their livelihood.
Lucban is one of three pilot greenhouse project sites in the Philippines. The project established infrastructure like greenhouses with drip irrigation systems, ventilation, and post-harvest buildings, enabling farmers to control their environment and protect their crops from pests and extreme elements.
Also provided were production inputs, farm machinery, training on good agricultural practices, and post-harvest technologies.
Marcos said the government is developing community and university-based seed production facilities to boost food production, led by the Agriculture department with the help of the Interior and local government department, the Commission on Higher Education, and state universities and colleges.
