Korea trade ministry, KOTRA brief exporters on non-tariff barriers in nine countries

The industry ministry and the Korea Trade-Investment Promotion Agency brought together experts from 11 overseas free-trade-agreement support centers on Tuesday to brief about 90 South Korean exporters on non-tariff barriers in nine countries, as Seoul pushes companies to broaden their export markets.

The session at KOTRA's headquarters in Seoul was organized because spreading protectionism and shifting trade conditions have increased the obstacles Korean firms face at the export stage, according to the Ministry of Trade, Industry and Energy. Officials said exporters need information on non-tariff barriers and on how to use free trade agreements if they are to move into markets such as those of the Global South.

Experts stationed in China, Japan, India, Vietnam, Malaysia, Thailand, Indonesia, the Philippines and Cambodia took part, covering certification and customs procedures that differ from country to country, along with examples of how companies have used the trade deals. The briefing was followed by one-on-one consultations tailored to individual companies.

"With exports expected to reach $1 trillion this year, we will actively support our small but strong companies with technology and expertise so that they can learn about local non-tariff barriers in advance and become leaders in export growth through diversifying their export items and markets," said Park Geun-oh, the ministry's director general for trade agreement policy.

Korea's cumulative exports through September had already surpassed the whole of last year's total 117 days earlier than they did last year, putting the country on course for its first annual export figure above $1 trillion. Only the United States, China and Germany have previously passed that mark.