The EU-Korea Free Trade Agreement
18/08/2011 67The Free Trade Agreement (FTA) between the EU and the South Korea is the first completed of the new generation of FTA launched by the EU in 2007. It has been signed by both parties on October 6th 2010 in Brussels.
The agreement consists of 15 Chapters, 3 protocols, several annexes and appendixes and four understandings.
The EU – Korea Free Trade Agreement include:
Chapter 1: Objectives and general definitions
Chapter 2: National treatment and market access for goods
- Annex 2-A: Elimination of customs duties
- Appendix 2-A-1: Tariff Rate Quotas - TRQs
- Appendix 2-A-2: Entry price system
- Annex 2-B: Electronics
- Annex 2-C: Motor vehicles and parts
- Annex 2-D: Pharmaceutical products and medical devices
- Annex 2-E: Chemicals
Chapter 4 Technical Barriers to Trade
Chapter 5 Sanitary and Phytosanitary Measures
Chapter 6 Customs and Trade Facilitation
Chapter 7 Trade in services, establishment and e-commerce
- Annex 7-A: List of commitments
- Annex 7-B: Most-favoured-nation treatment exemption
- Annex 7-C: List of MFN exemptions
- Annex 7-D: Annex on the additional commitment on financial services
Chapter 8 Payments and capital movements
Chapter 9 Government procurement
Chapter 10 Intellectual Property
- Annex 10-A: Geographical indications for agricultural products and foodstuffs
- Annex 10-B: Geographical indications for wines, aromated wines and spirits
Chapter 13 Trade and Sustainable Development
- Annex 14-A: Mediation mechanism for non-tariff measures
- Annex 14-B: Rules of procedure for arbitration
- Annex 14-C: Code of conduct for members of arbitration panels and mediators
Chapter 15 Institutional, general and final provisions
Protocols
Protocol 1: Rules of Origin
Protocol 2: Mutual administrative assistance in customs matters
Protocol 3: Cultural cooperation
Understandings
Understanding on the cross-border supply of insurance services as committed in the lists of commitments in Annex 7-A (List of Commitments)
Understanding on the Korean postal reform plan
Understanding concerning specific commitments on telecommunications services
Understanding on regulations relating to zoning, urban planning and environmental protection