Hanoi (VNA) – Philippine President Ferdinand R. Marcos Jr. held a bilateral meeting with President of the Republic of Korea (RoK) Lee Jae Myung in Manila on March 3, during which they pledged to maximise the two countries’ Free Trade Agreement (FTA), and work to expand trade and investment ties.
Speaking at a joint press conference, Marcos noted that both sides acknowledged ongoing efforts to advance bilateral trade and investment, while expressing their shared determination to fully realise the potential of the Philippines–RoK Free Trade Agreement for the benefit of their people.
He also vowed to support Korean enterprises entering the Philippine market and to address bottlenecks and operational challenges they may encounter.
Lee noted that since the FTA took effect in 2024, Korean investments in the Philippines have increased more than fivefold, reflecting a trend of growing bilateral trade and investment.
He expressed his confidence that the two nations’ signing of memoranda of understanding on intellectual property rights and the agricultural sector would facilitate the full implementation of the FTA.
During the RoK President’s two-day visit, the two sides signed at least 10 agreements aimed at strengthening cooperation in key areas, including digital transformation, agriculture, trade and investment, defence, and education.
President Marcos said these agreements will help sustain the momentum of the Philippines–Republic of Korea Strategic Partnership in the years ahead./.
RoK, Philippines enhance defence collaboration
Senior defence officials of the Republic of Korea (RoK) and the Philippines discussed ways to strengthen cooperation in defence and weapon industry at their meeting in Seoul on September 15.
