Korea, ASEAN countries to increase exchanges in F&B industry

Kim Hae-yong, secretary general of the ASEAN-Korea Centre, delivers opening remarks during the “Webinar on Trade Facilitation for F&B Industry between ASEAN and Korea,” Wednesday. Courtesy of the ASEAN-Korea Centre

By Kwon Mee-yoo

The ASEAN-Korea Centre (AKC) hosted a webinar on strengthening cooperation in the food and beverage (F&B) industry last week.

Held in collaboration with the Korea Importers Association, the webinar discussed ways to exchange information and provide new opportunities for F&B companies in ASEAN countries and Korea.

Kim Hae-yong, secretary general of the ASEAN-Korea Centre, emphasized the importance of the food sector to the ASEAN region, where the food value chain generates over $500 billion, accounting for some 17 percent of ASEAN's total GDP.

"Meanwhile, Korea's agri-food imports from ASEAN have more than tripled over the last decade from less than $1 billion in 2010 to approximately $3.2 billion in 2020. We have been witnessing a steady growth of trade between ASEAN and Korea in the F&B sector lately," Kim said.

From Korea, Song Mi-jeong of the Korea Agro Fisheries & Food Trade Corp. gave a presentation on Korea's food industry and discussed ways to make the best out of the Korea-ASEAN FTA for agricultural and food products.

Abdul Aziz Mohamad Sharkawi from Malaysia's Ministry of International Trade and Industry introduced the ASEAN food industry and the upcoming implementation of the Regional Comprehensive Economic Partnership (RCEP), a trade pact among the 10 ASEAN member states and other Asia-Pacific countries including Australia, China, Japan, New Zealand and Korea.

The seminars covered a wide range of topics, from plant quarantine procedures and safety control policy for imported foods, to import customs procedures and F&B and coffee market trends in Korea.

As a follow-up, the AKC will host the ASEAN Trade Fair during the Seoul International Cafe Show from Nov. 10 to 13, showcasing various ASEAN F&B products such as coffees, teas and desserts to the Korean public and industry personnel.