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Philippines, South Korea form fisheries management co-op December 02,2019   |  Source: UCN

South Korea and the Philippines have agreed to an extensive collaboration on fisheries management and trade, reports Business World.

According to the publication, the Filipino Department of Agriculture has signed a memorandum of understanding with South Korea's ministry of oceans and fisheries, agreeing to a scientific, economic and trade cooperation for fisheries and aquaculture.

The agreement, signed in Busan on Nov. 26, is an upgrade to the existing arrangement formed by Filipino president Rodrigo Duterte with South Korea's ministry of agriculture, food and rural affairs during his last trip to the capital, Seoul.

Total Filipino exports to South Korea came to $275 million in August this year, while exports in the first eight months of the year were up 22% year-on-year to $2.03 billion.

The Philippines primarily exports tuna, abalone, sea cucumber, octopus, shrimp, seaweed and carrageenan to South Korea from its seafood sector.


© 2019 Undercurrent News. All rights reserved.

Theme(s): Fisheries Development and Aquaculture.

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