MANILA: Philippine President Ferdinand R Marcos Jr on Monday (Oct 27) expressed optimism over efforts to enhance the trade deal between Asean and South Korea, as negotiations to upgrade the Asean-Korea Free Trade Area (AKFTA) continue.
"The review of the AKFTA is an important signal of our shared determination to keep markets open and to push back against growing protectionist tendencies in the global economy,” Marcos said.
"By doing so, we reaffirm Asean and Korea’s commitment to transparency, fairness, and cooperation in trade,” he added.
The President also welcomed South Korea’s continued support for advancing micro, small and medium enterprises (MSMEs) and startup development in the region.
"In particular, we commend the initiatives of the Asean-Korea Centre, such as the annual Asean-Korea Startup Week, which serves as a valuable platform for promising Asean startups to engage in networking and capacity-building activities with their Korean counterparts,” Marcos said.
He further expressed appreciation for South Korea’s initiatives that promote cultural exchange and people-to-people connectivity and lauded its active support for Asean’s environmental sustainability efforts through projects such as Clean Air for Sustainable Asean and the Asean-Korea Cooperation for Methane Mitigation.
"These types of initiatives demonstrate our shared commitment to advancing the vision of a sustainable Asean Community.
"I am confident that Asean and the Republic of Korea will continue to work together to advance peace, prosperity, and security in our region because we are guided by a common goal of uplifting the lives of our peoples,” Marcos said.
Also present at the summit was South Korean President Lee Jae Myung. - Bernama/PNA
