The recent ratification of the Free Trade Agreement (FTA) between the Philippines and the Republic of Korea (South Korea) will boost the country’s marketing of its tropical fruits, President Ferdinand R. Marcos Jr. said on Friday.

The FTA was ratified last 14 November. It will bolster the marketing of Filipino tropical fruits like bananas and pineapples in South Korea.

During the ceremonial turnover of the Korean Partnership for Innovation of Agriculture (KOPIA) Greenhouse and Postharvest Facilities in Lucban, Quezon, Marcos expressed his gratitude to the Korean government for its unwavering support of the Philippine economy.

“We are also thankful to the Republic of Korea for the overwhelming support of your National Assembly for the ratification of our FTA, which came much earlier than we expected,” he said.

Marcos said the FTA would enhance trade relations between the two countries and would grant better market access for Philippine agricultural products.

“The agreement is a milestone in strengthening our ties and fostering our mutual economic growth,” he said, noting how partnerships like this have “contributed to advancing sustainable development in the Philippines.”

“You have reinforced our call for a brighter and more sustainable future for all,” Marcos said.

The President underscored the importance of the FTA as a symbol of the strong partnership between the two nations.

“This milestone signifies another step forward in the Philippines’ commitment to enhancing global trade relations and supporting the agricultural sector’s growth,” he added.

This year marks the 75th anniversary of diplomatic relations between the Philippines and South Korea, which was established on 3 March 1949.

Both countries enjoy bilateral relations with decades of cooperation and shared goals.

In 2023, South Korea was the Philippines’ fifth top trading partner, fifth export destination out of 205, and fourth largest import source out of 220.