‘PHL-Sokor FTA could leave Pinoys with short end of the stick’

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‘PHL-Sokor FTA could leave Pinoys with short end of the stick’ - Business Mirror

Quick Summary:

FILIPINO producers might get the short end of the stick once the free trade deal between the Philippines and South Korea enters into force, an agriculture coalition warned Monday, noting that the tariffs agreed upon favors Korean firms more than local players.

Marcos stressed it’s important that the country enter into this FTA with South Korea, adding “It’s the third best market for Philippine bananas.

With this, Gepty said the country can arrest the declining competitiveness and market share of its bananas in the Korean market while protecting investments and the jobs generated by the industry in the Philippines.“We have to take note that the PH KR FTA is just a policy tool that will complement other existing FTAs like the AKFTA and RCEP.