Free Trade Agreement Between The Republic Of Korea And The Republics Of Central America

/Free Trade Agreement Between The Republic Of Korea And The Republics Of Central America

Free Trade Agreement Between The Republic Of Korea And The Republics Of Central America

The free trade agreement between Central and South Korea ensures that the exercise of state regulatory powers does not create unnecessary trade barriers between participating countries. According to a statement from Costa Rica`s Ministry of Foreign Trade: San Jose, March 02, 2016.- The third round of negotiations for a free trade agreement between Central and South Korea took place February 22-26 in San Francisco, USA. During the meeting, the technical teams continued the debate on regulatory texts and discussions on trade and sustainable development began. The mutual benefits between the Republic of Korea and Honduras are as follows: in Round VI, agreements have been reached on the public procurement, employment and dispute settlement chapters and, in the next round, they will define the final technical and legal review document. The position of each sector is very clear. The industrialists say that if the agreement is signed under the current conditions, certain sub-sectors will be affected and that is why, if there is an opening on the part of the Korean government, they will want to return to the negotiating table. Excerpt from a statement from Costa Rica`s Ministry of Foreign Trade:San Jose, October 31, 2016 .- Today the seventh round of negotiations of the free trade agreement between Central America and Korea ended in Seoul, South Korea. The meeting, which took place from 24 to 31 October, allowed the parties to move towards a final agreement. Health and plant health measures, technical barriers to trade, rules of origin and competition rules have been established and progress has been made in reducing tariffs. Excerpt from a statement from the Ministry of Economy and Finance in Guatemala:Guatemala, 5 October 2016. The teams negotiating the Central-American-South Korea free trade agreement conducted a sixth round of negotiations with the conclusion of three more chapters from 26 to 30 September in Managua, Nicaragua. Opposition from industry, particularly the metallurgical sector, forced the government to reject the possibility of signing the agreement in June. Dairy products and certain metal processing products, plastics, tires and wood were excluded from the Central American-China trade agreement.

The signing of the trade agreement is expected by the end of February, a measure that promises to improve access to Korea`s high-tech products and increase Central American agricultural exports. During the first round in South Korea, the modalities and categories of staging trade were defined. The first round of negotiations on the Central American-TLC-South Korea Free Trade Agreement took place in Seoul, Korea. The entry into force of this free trade agreement has been and remains a source of great satisfaction for the six signatory countries. This is because it has created a business environment that allows participating nations to trade within a regulatory framework of legal certainty and predictability. The IIA Mapping Project is a cooperative initiative between UNCTAD and universities around the world to represent the content of II A. Individual contracts are mapped by law students from participating universities under the supervision of their professors and under the general direction and coordination of UNCTAD. The mapping results contained in the IIA Mapping Project database have a purely informative purpose.

Compliance with the provisions of the treaty is not exhaustive, has no official or legal status, does not affect the rights and obligations of the parties, and is not intended to permit a mandatory or formal interpretation of the law. While every effort has been made to ensure accuracy, UNCTAD assumes no responsibility for any errors or omissions in the classification data.

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