Local firms invited to join Korean trade fairs

MANILA, Philippines - Filipino firms are being encouraged to participate in trade fairs in South Korea to increase exports of Philippine products to that country.

Ki Bong Moon, second deputy head of the trade and investment unit of the ASEAN (Association of Southeast Asian Nations) - Korea Centre, said in an interview the organization is working with the Department of Trade and Industry (DTI) and Center, for International Trade Expositions and Missions (CITEM) to encourage Filipino firms to take part in trade fairs being held in South Korea.

“There is very low awareness on Philippine products (in South Korea) so we invite Philippine companies to go to Korea,” he said.

To encourage Filipino firms to take part in trade fairs in South Korea, he said the ASEAN-Korea Centre is providing airline tickets and accommodation of selected companies during the trade shows.

The companies are selected by the organization with the DTI and CITEM based on a set of guidelines.

Moon said that for an upcoming trade fair for healthy food to be held in August, the ASEAN-Korea Centre is inviting two Filipino companies to participate.

For another food trade show being held in November, he said four Filipino firms would be invited.

He said the organization wants to encourage Filipino firms to participate in South Korea’s trade fairs so that more Philippine products would be made available in Korea.

He noted that exports of South Korea to the Philippines were valued at $8.2 billion in 2012.

Philippine exports to South Korea however, amounted to a much lower $3.2 billion last year.

“We want to encourage Philippine manufacturers to bring their products to Korea,” Moon said noting that the Philippines has many products which could cater to the Korean market.

He said among the Philippine products of interest to South Koreans are muscovado and calamansi.

“It is very critical for the Philippines to increase its exports to Korea,” he added.

The ASEAN-Korea Centre is an intergovernmental organization mandated to promote the economic and socio-cultural cooperation between ASEAN member states and Korea.

Among the ASEAN member countries, the Philippines is Korea’s fifth largest trading partner with trade volume between the two hitting $11.5 billion last year.