DOF wants to expand South Korea economic ties

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Finance Secretary Carlos G. Dominguez III has reaffirmed the Philippine government’s desire to deepen economic ties with South Korea, which recently unveiled plans to pivot towards the Association of Southeast Asian Nations (ASEAN) and expand its assistance to countries in the region.

In a meeting held recently with officials of the Korea International Cooperation Agency , Dominguez also thanked South Korea for supporting the Philippines’ efforts to enhance the use of digital technology in improving tax administration through its support for the electronic invoicing and receipts system of the Bureau of Internal Revenue .

Lee said that with South Korea’s assistance to ASEAN in 2017 almost tripling by 2022, the Philippines can also expect the volume of support from his country to also increase during that period. On behalf of the Philippine government, Dominguez also thanked South Korea for “more than doubling” its assistance to the ASEAN by 2022 and for supporting the region’s inclusive development initiatives.

In light of South Korean President Moon Jae-in’s policy centered on “the three Ps—people, peace and prosperity,” and his recognition of the strategic importance of ASEAN in the global economy, Lee said his government has pursued several initiatives on education, information and communications technology , and inclusive development, among other programs, that the Philippines could tap to help achieve its goal of economic inclusion for all Filipinos.

 

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