Eu Free Trade Agreement With South Korea

Important note: it is important that the declaration is correctly completed, otherwise it may be rejected by customs. Please refer to the official text of the declaration of origin set out in Annex III to the Official Agreement. The text contains explanatory guidance and is available in all applicable languages. The EU-South Korea trade deal expands the treaties you can compete for. In South Korea, EU companies can now apply for Build-Operate Transfer (BOT) (concession services) contracts. If your company is a European construction and services company, you can compete for large infrastructure projects in South Korea, for example. B the construction and operation of motorways. – The Free Trade Agreement establishes a number of long-term remedies and instruments to facilitate trade between the EU and Korea. In the first five years of the agreement, EU exports to South Korea increased by 55%, European companies saved €2.8 billion in reduced duties and trade in goods between the EU and South Korea reached a record high of more than €90 billion. The agreement establishes a customs committee capable of discussing and settling differentiated differences in tariffs and trade facilitation, including – the free trade agreement lays the foundation for increased trade between Denmark and Korea and creates a platform for cooperation in different areas of interest. For more information on the Korea-EU Free Trade Agreement, please download the PDF file at the end of this page. See also the European Commission`s page on bilateral relations between Korea and the EU. It went further than any previous EU agreements on the removal of trade barriers and was also the EU`s first trade agreement with an Asian country.

The EU-South Korea Trade Agreement contains four sectoral rules on 1 The EU-Korea Free Trade Agreement in practice – see page 3 2 South Korea: Trade image, European Commission, December 2019 The EU and South Korea are now working together on technical rules, standards and conformity assessments to facilitate your international trade. This ensures that you do not waste money and/or time on double or multiple procedures. Wines and spirits are included in Annex 10-B of the agreement and include for example: Facilitate release with our free tools….

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