NEDA Board OKs PH-South Korea FTA EO, 2 infra projects

The National Economic and Development Authority (NEDA) Board has approved the issuance of an executive order (EO) for the implementation of the Philippines-South Korea free trade agreement (FTA).

- By Louella Desiderio

The National Economic and Development Authority (NEDA) Board has approved the issuance of an executive order (EO) for the implementation of the PhilippinesSouth Korea free trade agreement (FTA).

In a statement, the NEDA said the NEDA Board chaired by President Marcos also gave the green light for two projects worth P63.2 billion to enhance agricultural productivity and regional connectivity during its meeting yesterday.

Signed in September last year, the FTA aims to strengthen the two countries' economic ties by facilitating trade and investment flows, removing barriers to market access and opening new business and investment opportunities.

Under the FTA, South Korea will grant preferential dutyfree entry on 11,164 Philippine products accounting for $3.18 billion or 87.4 percent of total South Korean imports from the Philippines.