Korea, Singapore, New Zealand review progress in green trade pact talks
President Lee Jae Myung speaks during a press conference of the 2025 Asia-Pacific Economic Cooperation (APEC) in Gyeongju, Nov. 1, 2025. Korea Times photo by Wang Tae-seog
Korea, Singapore and New Zealand have discussed progress in negotiations and key outstanding issues related to their trilateral Green Economy Partnership Agreement (GEPA), the industry ministry said Thursday.
Senior officials from the three countries held a videoconference ahead of the APEC Economic Leaders' Week, scheduled to begin next week in China, according to the Ministry of Trade, Industry and Resources.
Through the agreement, Seoul seeks to work with the two partners to jointly address the challenges posed by trade-related climate measures (TrCMs), including the European Union's Carbon Border Adjustment Mechanism (CBAM), and help businesses maintain stable operations amid an increasingly volatile global trade environment, the ministry said.
CBAM is an EU policy instrument designed to ensure that imported goods face a carbon price comparable to that imposed on products manufactured within the bloc.
The three countries also plan to expand exchanges of policies and technologies in the aerospace and construction sectors to promote sustainable industrial growth.
Negotiations on GEPA were launched on the sidelines of the APEC Economic Leaders' Week, held in Korea last year. The three countries have since held two rounds of negotiations, in July and September this year, with a third round scheduled for early 2027, the ministry said.
"Beyond establishing rules and frameworks, GEPA will also provide a mechanism for participating countries to pursue practical cooperation to translate shared priorities into tangible outcomes," it said.