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Textos de la UE

EU-Republic of Korea Free Trade Agreement (FTA)

The 'Free trade Agreement between the European Union and its Member States, of the one part, and the Republic of Korea, of the other part" has been provisionally applied since July 2011.

The Free Trade Agreement (FTA) is the EU's first trade deal with an Asian country and goes further than any previous EU FTA in lifting trade barriers. Duties for industrial and agricultural goods are removed in a progressive, step-by-step approach. The majority of import duties were removed already in 2011. The FTA also addresses non-tariff barriers to trade, specifically on the automotive, pharmaceutical, medical devices and electronics sectors.

In July 2016, five years after the Agreement entered into effect, the European Commission announces that EU exports to South Korea had increased by 55% since the trade deal between the two partners entered into force in 2011, and that European companies had saved €2.8 billion in scrapped or discounted customs duties. Bilateral trade in goods between the EU and South Korea grew constantly between 2011 and 2016, and reached a record level of over €90 billion in 2015.

EU-Republic of Korea Framework Agreement

The "Framework Agreement between the European Union and its Member States, on the one part, and the Republic of Korea, on the other part" was signed in Brussels on 10 May 2010 and came into effect on 1 June 2014.

This new Framework Agreement, negotiated in parallel with a comprehensive Free Trade Agreement (FTA) between the EU and South Korea, establish a fully coherent modernised framework for bilateral relations.

The aim was to extend the cooperation with Korea, a country active on the international scene and committed to human rights, free markets and multilateralism, to areas such as science and technology, education, climate change and development assistance and to offer a broad basis for cooperation, including on major political and global issues.

Sections of the treaty address a wide range of international concerns, including the non-proliferation of weapons of mass destruction, human rights, counter-terrorism, climate change, energy security and development assistance.