Proactive Response to Global Digital and Green New Deal Technology Regulations

[Sejong=Asia Economy Reporter Haeyoung Kwon] In response to the global spread of digital and green economy transitions, the 'New Industry Sector TBT Response Council' will be launched to proactively address trade technical barriers (TBT) in key technologies and promising industrial sectors.

The Ministry of Trade, Industry and Energy's National Institute of Technology and Standards held the inauguration ceremony of the New Industry Sector TBT Response Council on the 24th, with participation from academia, industry, and research institutions in the new industry sectors.

The National Institute of Technology and Standards announced the council's operation plan, shared policies and regulatory trends in major new industry sectors, and discussed future council operations and policy directions.

So far, TBT responses have achieved results focused on resolving export companies' issues through multilateral and bilateral channels of the World Trade Organization (WTO) and Free Trade Agreement (FTA) committees. Going forward, alongside existing response methods, the council will predict global technical regulations in new industry sectors and support Korean companies to proactively respond.

The newly launched council will hold regular meetings to ▲ identify global technical regulation issues centered on major advanced countries in the relevant sectors ▲ publish and disseminate sector-specific trend reports that comprehensively analyze overseas markets, technology development and standardization status, prospects for technical regulation introduction, and future response plans ▲ and serve as a dedicated response team to promptly support the preparation of external negotiation strategies when TBT-related difficulties arise for export companies in each sector.

Lee Sang-hoon, head of the National Institute of Technology and Standards, stated, "Recently, countries around the world are fiercely competing in technology and standards to recover their economies from the COVID-19 downturn and secure leadership in advanced industries, strategically utilizing complex and sophisticated technical regulations as tools." He added, "Starting with the inauguration of seven sector councils today, we will fully activate each sector council to enable our export companies to proactively respond to and overcome global technical barriers in new industry sectors, with government support."

This content was produced with the assistance of AI translation services.