President Duterte is now in Busan to attend Association of Southeast Asian Nations (Asean)-Republic of Korea (ROK) Commemorative Summit as well as to discuss issues of mutual concern in his bilateral meeting on Monday with South Korean President Moon Jae-in.
The summit, to be held starting today (November 25) until tomorrow (November 26) is expected to be attended by heads of Asean member-states.
According to Foreign Affairs Assistant Secretary Junever M. Mahilum-West, the main summit will happen on Tuesday, with discussions on the 30 years of cooperation between the regional bloc and Korea, connectivity, and the regional security issue in the Korean peninsula.
Two outcome documents are expected in the summit and other side events. These documents are the Asean-ROK Joint Vision Statement for Peace, Prosperity, and Partnership and the Co-Chairs’ Statement on the Asean-ROK Commemorative Summit.
On the sidelines of the summit, Duterte is also expected to meet his South Korean counterpart on Monday to exchange views on different issues, as well as sign at least four bilateral agreements on education, tourism, social security and fisheries.
The two leaders’ meeting also comes at a time when the Philippines and Korea are currently in negotiations for a free-trade deal. If signed, the FTA with South Korea will only be the country’s second bilateral trade deal after the Philippines-Japan Economic Partnership Agreement, which entered into force in 2008.
This is the President’s second visit to Korea since assuming office, and his first time in Busan. The President went on an official visit to Seoul in June 2018.
South Korea was the Philippines’s fourth major trading partner last year. It is the Philippines’s eighth export market and second import supplier. Total bilateral trade was valued at $13.7 billion, with Philippine exports to South Korea at $2.5 billion, and Philippine imports from South Korea at $11.2 billion.
Accompanying the President in Korea are Foreign Affairs Secretary Teodoro L. Locsin Jr., Finance Secretary Carlos G. Dominguez III, Agriculture Secretary William D. Dar, Education Secretary Leonor Magtolis Briones, Defense Secretary Delfin Lorenzana, Trade Secretary Ramon Lopez, Tourism Secretary Bernadette Romulo Puyat, Socioeconomic Planning Secretary Ernesto Pernia, and Philippine Ambassador to Korea Noe Wong.