The Philippines and South Korea are still on a deadlock in negotiations for a free trade agreement (FTA) that was supposed to be signed this month. On the other hand, the two sides are looking to conclude talks next year.
According to the Philippine Star, Filipino trade secretary Ramon Lopez revealed that the two countries are looking to reveal details about the negotiations' progress during the Association of Southeast Asian Nations (ASEAN) - Republic of Korea Commemorative Summit.
"For now, there is still no FTA," Lopez revealed. He added that a joint statement will most likely be presented by the two countries' two leaders, Philippine President Rodrigo Duterte and South Korean President Moon Jae-in.
Talks for the Phil-SoKor FTA kicked on in June, with the Philippines requesting for more of its agricultural products to enter the South Korean market. Among the top products in the list are mangoes, pineapples, and bananas.
Philippine bananas are currently tariffed at around 30 percent in South Korea. For its part, the Philippine government wants tax duties for the said product to be reduced to around five percent.
The two sides are aiming to sign the FTA this month but Lopez noted that both governments are aware of the stalemate on several aspects of the deal that still need more time to be reached.
The Philippines also aims to get more of its industrial products into South Korea, as well as obtain more investments in the electric vehicle sector, wherein the South Korean industry is becoming a global competitor in.
On Friday, it was revealed that Duterte is looking to snag a total of four deals with his South Korean counterpart during their upcoming meeting. According to local news outlet ABS-CBC News, the deals include fisheries, tourism social security, and education.
Foreign Affairs Assistant Secretary Junever Mahilum-West noted that talks are still underway regarding the said potential deals. On the other hand, segments mentioned are hopeful of better opportunities under official agreements that Duterte will secure at the summit.
Duterte's second trip to South Korea will see a delegation including Social Welfare Secretary Rolando Bautista, Lopez, and Foreign Affairs Secretary Teodoro Locsin Jr.
Meanwhile, Philippine ambassador to Korea, Noe Albano Wong, said on Sunday that the Malacañang Palace may step efforts in potentially seeking visa-free entry to South Korea for Filipino travelers.
According to the official news site of the Philippine government, Wong said during a press conference that the visa-free entry discussion may be raised during the upcoming summit this week.
Wong confirmed that he spoke with the Department of Tourism (DOT) Seoul in charge regarding the matter. South Korean ambassador to the Philippines Han Dong-man echoed Wong's sentiments about visa-free entry for Filipino tourists.
