| 

FTA may boost South Korean apparel imports from Philippines

The Philippine government is optimistic that the FTA will come into force in current month itself after the issuance of an executive order by Philippine’s President Ferdinand Marcos Jr. Exporters of both countries will get certain benefits under the trade agreement.

According to Fibre2Fashion’s market insight tool TexPro, South Korea has imported apparel of $**.*** billion in the first ten months of the current year. Philippines’ share was just *.** per cent in the total inbound shipment. South Korea’s apparel imports from the partner country was valued at $**.*** million during the period. The imports decreased *.** per cent in January-October **** from the imports of $**.*** million in the corresponding period of the last year.