Decision 2011/265/EU – Signing and provisional implementation of the free trade agreement between the EU and EU countries, on the one hand, and South Korea, on the other, in 2010, the EU and South Korea strengthened their wider relations with a strategic partnership. On May 10, 2010, the two sides signed a framework agreement that came into force on June 1, 2014. It forms the basis for enhanced cooperation on important political and global issues, such as human rights, the non-proliferation of weapons of mass destruction, the fight against terrorism, climate change and energy security. It is a comprehensive political cooperation agreement with a legal link to the eu-South Korea free trade agreement. This is the third trade agreement signed between South Korea and the European Union. The first, the Customs Cooperation and Mutual Assistance Agreement, was signed on 13 May 1997. [5] This agreement allows competition policy to be distributed between the two parties. [6] The second agreement, the Framework Agreement on Trade and Cooperation, came into force on 1 April 2001. The framework aims to strengthen cooperation in various industrial sectors, including transport, energy, science and technology, industry, environment and culture. [6] [7] It went beyond all previous EU agreements to remove trade barriers and was also the EU`s first trade agreement with an Asian country. We help your business reach its full potential. With our express parcel service, you can import from South Korea in just 1 to 2 days and export to South Korea in 2 days. Important note: it is important that the declaration is properly completed or can be rejected by customs.
Please consider the official text of the original declaration in Schedule III of the official agreement. The text contains explanatory notes and is available in all applicable languages. The free trade agreement between the European Union and South Korea is a free trade agreement between the European Union (EU) and South Korea. The agreement was signed on October 15, 2009. [1] The agreement was implemented on an interim basis from 1 July 2011[2] and came into force on 13 December 2015 after being ratified by all signatories. [3] Learn more about the practical application of the agreement. In 2016, the European Commission published the mandate to assess the impact of the implementation of the free trade agreement. The experience gained in the implementation of this free trade agreement can serve as a basis for improving the development of similar agreements negotiated with other countries. The agreement established a number of specialized commissions and working groups between the two parties to monitor implementation. Since the Lisbon Treaty came into force, the Euroepan Parliament must approve the conclusion of almost all trade agreements negotiated by the Euroepan Commission and approved by the European Council (Article 218 of the Treaty on european Union). The FREE Trade Agreement BETWEEN the EU and South Korea (EEA) removes almost 99% of all import tariffs on products originating in the EU or South Korea1, making exports easier and cheaper.