The anticipated free trade agreement (FTA) between the Philippines and South Korea is expected to provide a moderate increase in textile exports from the Philippines. According to Robert Young, President of the Foreign Buyers Association of the Philippines (Fobap), the country exported approximately $50 million worth of mixed apparel to South Korea in 2023.

 

Young highlighted that the rising costs of apparel from China present an opportunity for the Philippines to capture a share of the local Korean market. Fobap members primarily export woven and knitted fast fashion and casual wear to South Korea, indicating a favorable outlook for Philippine textile producers.

 

However, the potential benefits of the FTA come with concerns. Young warned that an influx of Korean-made apparel into the Philippine market could threaten local manufacturers, possibly undermining the few remaining players in the industry.

 

As the negotiations progress, stakeholders are watching closely to see how the FTA will shape the future of the textile sector in both countries.

 

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