FTA experts active in 9 countries participate as more than 90 export companies attend

Park Geun-o (left), director general for trade agreement policy at the Ministry of Trade, Industry and Energy [Yonhap]
Park Geun-o (left), director general for trade agreement policy at the Ministry of Trade, Industry and Energy [Yonhap]

The Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA) held a briefing Tuesday at KOTRA's headquarters in Seocho-gu, Seoul, to help more than 90 export companies navigate non-tariff barriers and diversify their export markets.

The event was organized to address difficulties South Korean companies face on the ground amid the spread of protectionism and shifting trade conditions, and to help them expand their export product lines and reach new markets.

Non-tariff barriers refer to all forms of regulation other than tariffs — including import volume restrictions and complex customs procedures — that countries use to curb imports and protect domestic industries.

Such barriers vary widely by country, particularly in emerging markets and developing economies in the Global South, where non-tariff measures, free trade agreement (FTA) utilization strategies and other trade rules differ significantly from one market to the next.

To address this, the ministry brought in experts from 11 FTA overseas support centers operating across nine countries — China, Japan, India, Vietnam, Malaysia, Thailand, Indonesia, the Philippines and Cambodia — to walk attendees through country-specific certification and customs requirements and share key FTA case studies. One-on-one consultations with individual companies followed the group briefing.

Director General for Trade Agreement Policy Park Geun-o said the government would "actively support our strong small and medium-sized enterprises with the technology and expertise to learn about local non-tariff barriers in advance, so they can become the driving force behind export growth through diversification of products and markets," adding that exports are on track to reach $1 trillion this year.


oskymoon@heraldcorp.com