News Briefing
Korea signs TIPF with Dominican Republic
May 2023
Korea and the Dominican Republic signed the Trade and Investment Promotion Framework (TIPF) in Seoul on April 7 to boost bilateral economic cooperation and promote joint projects.
It is Korea’s first signing with a Latin American country, and the second one following the bilateral agreement with the United Arab Emirates (UAE) signed in January.
Under the TIPF, the two countries agreed to push ahead with joint projects in new areas such as the supply chain and the digital, green and bio sectors, as well as in trade, investment and energy.
To this end, Korea and the Dominican Republic plan to hold a Trade and Investment Cooperation Committee every year to alleviate trade barriers and promote exchanges and cooperation between businesses and institutions from the two countries.
In addition, based on this TIPF, Korea will make efforts to advance economic cooperation with the Dominican Republic further, leading to the signing of an Economic Partnership Agreement (EPA).
It is Korea’s first signing with a Latin American country, and the second one following the bilateral agreement with the United Arab Emirates (UAE) signed in January.
Under the TIPF, the two countries agreed to push ahead with joint projects in new areas such as the supply chain and the digital, green and bio sectors, as well as in trade, investment and energy.
To this end, Korea and the Dominican Republic plan to hold a Trade and Investment Cooperation Committee every year to alleviate trade barriers and promote exchanges and cooperation between businesses and institutions from the two countries.
In addition, based on this TIPF, Korea will make efforts to advance economic cooperation with the Dominican Republic further, leading to the signing of an Economic Partnership Agreement (EPA).
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