00:00The ratified free trade agreement will greatly help the country's export industry between the Philippines and South Korea.
00:10This was explained by the Department of Industry in an interview with Bago Pilipinas, now PTV.
00:19According to Undersecretary Allan Gepti, the FTA said that it is a big deal for the stakeholders,
00:26especially according to the Philippine Development Plan 2023-2028,
00:33where the FTA network will be expanded.
00:38According to Gepti, this will provide more opportunities for Filipinos in terms of market access,
00:47in terms of export exportation.
00:50It will first benefit the agriculture sector, which has a large market share in other countries, especially in South Korea.
00:59Another advantage of the so-called bilateral FTA is that even if the time comes for the administration to change,
01:06it will still remain because it is under the Treaty or International Agreement.
01:14This is complementary to our bilateral FTA with South Korea.
01:19So if you sum it up, almost 97% of our exports to South Korea have preferential market access.
01:29So it means that the margin is zero or the margin is too low.
