Canada Korea Free Trade Agreement

On 8 april, 2021

Market facts, reports, events and trade offices in Korea. In January 2018, the agreement abolished or reduced many tariffs on Canadian exports. A summary of the final agreement and its main results. Transparent and objective treatment by regulators is essential to the success of Canadian and South Korean service providers. The CKA contains provisions relating to national rules that facilitate trade in services by ensuring that service providers seeking authorization for the provision of services are informed of their application within a reasonable time. The applicant also has the right to obtain immediate information on the status of the application. More broadly, Canada and South Korea reaffirmed their commitment to ensure that national regulatory measures related to licensing and qualification requirements and procedures are clear, publicly available, objective and impartial. The agreement contains strong disciplines for non-tariff measures that help Canadian businesses take advantage of the benefits of the agreement and prevent market access gains from being undermined by a lack of transparency or unwarranted trade restrictions. In addition, these strong disciplines are underpinned by broad bilateral dispute resolution rules. Concretely, the agreement: the two countries began discussing a free trade agreement in 2005 and held 14 rounds of negotiations before the finalization of the agreement. [2] [5] Canada`s trade with South Korea declined by about 1/3 as a result of the conclusion of the Free Trade Agreement between the European Union and South Korea and the free trade agreement between the United States of America and the Republic of Korea.

[2] CKFTA ensures that all players in the telecommunications market have equitable access to networks and services and ensures that regulators act impartially, objectively and transparently. The telecommunications chapter of the agreement contains regulatory disciplines to ensure that regulatory frameworks in Canada and South Korea support the competitive provision of telecommunications services and, if not, do not affect national commitments made in the chapters on investment and cross-border trade in services.

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