Inter-Korean Made Products
Korea and the EU will push ahead with a plan to give tariff benefits for products manufactured at the Kaesong Industrial Complex (KIC) when exporting those items to the EU.
The Ministry of Trade, Industry and Energy (MOTIE) said that Minister Yoon Sang-jick attended the 3rd meeting of the EU-Korea FTA Trade Committee held at the InterContinental Seoul COEX on October 15.
It was reported that the meeting, co-chaired by the minister and EU Trade Chief Karel De Gucht, focused on a plan to give special benefits to KIC products. Both parties examined bilateral trade as the year 2013 marks the second anniversary of the Korea-EU FTA, and reviewed FTA revisions arising from Croatia’s accession to the EU.
The EU-Korea FTA Trade Committee is a bilateral consultation body at the minister level established pursuant to the provisions of Article 15.1 of the Korea-EU FTA. The committee supervises and facilitates the implementation and application of the bilateral FTA and is in charge of its working groups.