THE PHILIPPINES continues to expect the free trade agreement (FTA) with South Korea to take effect within the year with ratification still pending on the Korean side, according to the Department of Trade and Industry.
“When it comes to the effectivity of the FTA, we are targeting effectivity this year. At least on our side, we’re done with the ratification process,” Trade Undersecretary Allan B. Gepty told BusinessWorld on the sidelines of a budget hearing at the Senate on Tuesday.
“We’re just waiting for South Korea to finish their full domestic process of ratification. But I understand they are now in the process of seeking the approval of their National Assembly,” he added.
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