South Korea and the Philippines discussed ways of enhancing cooperation Thursday on supply chains and such various industry sectors as shipbuilding and electric vehicles based on their envisioned bilateral free trade deal, Seoul's industry ministry said. The discussion was made during the third economic and trade cooperation committee meeting held via teleconferencing, according to the Ministry of Trade, Industry and Energy. It was attended by South Korea's Deputy Trade Minister Yang Byeong-nae and Allan Gepty, assistant secretary of the Southeast Asian country's industry ministry. During the meeting, the two sides vowed efforts for bringing into force their free trade pact signed last year swiftly. They agreed to boost cooperation on supply chains of key raw materials and to continue consultations for detailed measures. Also on the table was how to work more closely on the shipbuilding and offshore wind power sectors, as well as the Philippines' development of electric buses and other eco-friendly vehi cles. The Philippines expressed hope for stronger ties with South Korea about energy security and net-zero goals, the ministry said. Two-way trade came to US$13.7 billion last year, with some 300 South Korean companies operating in the Philippines, government data showed. Source: Yonhap News Agency
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