The Philippines and the Republic of Korea signed an agreement to boost the Philippines’ farm, fishery, and food product exports to the East Asian country.
The South Korean Embassy in the Philippines announced the agreement after the two countries signed a Mutual Recognition Agreement (MRA) on the food safety of Philippine exports to Korea, which will be implemented this June 20.
The embassy hopes that the Philippine food exports to Korea continue to grow, as shown in recent years. In 2021, food exports to South Korea amounted to US$ 526.8 M, which was 20 percent more than in 2020.
As an emerging market for high-value seafood and fishery products, South Korea annually imports more than 2,300 tons of fishery products, such as frozen abalone and octopus from the Philippines.
In line with the continuing efforts to increase the country’s exports of farm, fishery, and food products, the Philippine Department of Agriculture (DA) participated in a recently concluded “Seoul Food Expo 2022” at Korea International Exhibition Center (KINTEX), in Goyang. This four-day event was the first international food fair the Philippines attended physically in the last two years, constrained by the Covid-19 pandemic. Twenty-four Filipino agri-fishery and food companies joined the Philippine delegation both on-site and virtually.
Department of Agriculture Assistant Secretary Noel Ocampo Reyes led the delegation and was upbeat about establishing valuable market leads with Korean food importers and retailers and, more importantly, gaining new and additional partners and investors.
Reyes also sees this event as a big opportunity to promote and sell as many Philippine food and fishery products as possible to South Korea and the rest of the world.
Official Portal of the Department of Agriculture. (2022). Phl, Korea forge partnership to further boost fishery exports. [online] Available at: https://www.da.gov.ph/phl-korea-forge-partnership-to-further-boost-fishery-export/ [Accessed 14 Jun. 2022].
seoulpe.dfa.gov.ph. (n.d.). PHILIPPINES AGRI-FISHERIES AND EXPORT PRODUCTS AT SEOUL FOOD EXPO 2022 AND ASEAN TRADE FAIR. [online] Available at: https://seoulpe.dfa.gov.ph/2013-11-29-06-33-23/advisories/1223-philippines-agri-fisheries-and-export-products-at-seoul-food-expo-2022-and-asean-trade-fair [Accessed 14 Jun. 2022].
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