The City Government of Imus launched a partnership with local and national agencies to make Imus MSMEs export-ready for South Korea. Key partners include the Philippine Trade Training Center, the Department of Trade and Industry - Cavite, and the Imus Rural Bank. The program is a direct response to the Philippines-South Korea Free Trade Agreement, which took effect on December 31, 2024, eliminating tariffs on key Philippine exports like bananas and canned pineapple.
Philippine-South Korea FTA: The Foundation for Export Growth
The program is built on the foundation of the Philippines-South Korea Free Trade Agreement, which took effect on December 31, 2024, eliminating tariffs on key Philippine exports such as fresh bananas and canned pineapple . The Philippines is South Korea's 6th largest trading partner, and the FTA is designed to expand the Philippines' trade network, encourage foreign direct investment, and secure preferential concessions beyond those available under ASEAN and RCEP agreements .
The South Korean government has also been actively supporting SMEs through export voucher programs worth up to KRW 150 million (approximately PHP6.5 million), demonstrating the mutual interest in expanding trade between the two countries . Given South Korea's growing demand for quality agricultural and manufactured products, the Philippine government has been actively promoting Filipino products, with curations confirming that MSME products have the quality to penetrate the Korean market.
Program Components and Timeline
The partnership with the Philippine Trade Training Center, which has been empowering MSMEs for over 38 years, provides a comprehensive export-readiness package through its "Train & Thrive" framework . The program includes:
Market Access: Preparation for entry into the South Korean market.
Training: Mentoring on international business practices, market rules, and export standards.
Timeline: Local businesses are expected to become verified exporters within 6 to 7 months.
Financial Support: Access to working capital, funding, and financial advice.
Trade Agreements: Maximizing benefits from the Philippines-South Korea Free Trade Agreement .
The partnership was formalized through a productive meeting between PTTC Executive Director Clare Mari S. Torralba, Imus City Mayor Alex "AA" Advincula, and DTI Cavite . With the Philippines-South Korea FTA providing a strategic advantage and a clear timeline for export readiness, Imuseño entrepreneurs are now poised to bring their products to the global stage, leveraging the full benefits of this trade agreement.
