Ceut Free Trade Agreement
The EU and South Korea have agreed on high labour and environmental standards to protect workers and the environment. The agreement will put in place mechanisms to ensure that these commitments are met, including through the participation of civil society. The customs authorities of the exporting country may encourage any exporter who exports products under the trade agreement to file origin declarations for products regardless of their value. The exporter must provide the customs authorities with sufficient guarantees to ensure that the originating status of the products and compliance with all other requirements of the Agreement (Protocol) can be verified. The customs authorities may withdraw the status of the approved exporter in the event of abuse. Detailed provisions on motor vehicles and parts covered by the Agreement are set out in Annex 2-C for motor vehicles and their parts and appendices. Since 2011, the EU-South Korea trade agreement has removed tariffs on almost all products. In addition, many other barriers to the export of EU products such as automobiles, pharmaceuticals, electronics and chemicals have been removed. Many services between the EU and South Korea have also been opened to investors and commercial companies. As the leading provider of express and air freight services between Canada and the rest of the world, FedEx welcomes trade agreements that open markets and facilitate trade, such as CETA. We look forward to helping you take advantage of this important new agreement and grow your transatlantic business.