| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/09/1523 (15.10.09) |
| Publication Date | 15/10/2009 |
| Content Type | News |
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On 15 October 2009 EU Trade Commissioner Catherine Ashton and Korean Trade Minister Kim Jong-hoon initialled a free trade agreement (FTA) that is the most important ever negotiated between the European Union and a third country. The deal, estimated to be worth up to EUR 19 billion in new trade for EU exporters, will remove virtually all tariffs between the two economies, as well as many non-tariff barriers. The agreement will create new market access in services and investment. The deal also makes major advances in areas such as intellectual property, procurement, competition policy and trade and sustainable development. The FTA signals an important upgrade of the EU-South Korea relationship, together with a new Framework Agreement. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/09/1523&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Countries / Regions | Europe |
