FREE TRADE AGREEMENT BETWEEN THE REPUBLIC OF .free trade agreement between and the republic of korea,

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  • FREE TRADE AGREEMENT

    BETWEEN

    THE REPUBLIC OF KOREA, OF THE ONE PART,

    AND THE EUROPEAN UNION

    AND ITS MEMBER STATES, OF THE OTHER PART

    October 6, 2010

    MINISTRY OF FOREIGN AFFAIRS AND TRADE

  • FREE TRADE AGREEMENT BETWEEN AND THE REPUBLIC OF KOREA, OF THE ONE

    PART, AND THE EUROPEAN UNION AND ITS MEMBER STATES, OF THE OTHER PART

    Preamble

    Chapter One Objectives and General Definitions

    Chapter Two National Treatment and Market Access for Goods

    Annex 2-A Elimination of Customs Duties

    Tariff Schedule of Korea

    Tariff Schedule of the EU Party

    Appendix 2-A-1 Korea

    Appendix 2-A-2 The EU Party

    Annex 2-B Electronics

    Appendix 2-B-1

    Appendix 2-B-2

    Appendix 2-B-3

    Appendix 2-B-4

    Annex 2-C Motor Vehicles and Parts

    Appendix 2-C-1

    Appendix 2-C-2

    Appendix 2-C-3

    Annex 2-D Pharmaceutical Products and Medical Devices

    Annex 2-E Chemicals

    Chapter Three Trade Remedies

    Annex 3 Schedule of Korea For Agricultural Safeguard Measures

    Chapter Four Technical Barriers to Trade

    Annex 4 TBT-Co-ordinator

    Chapter Five Sanitary and Phytosanitary Measures

    Chapter Six Customs and Trade Facilitation

    Chapter Seven Trade in Services, Establishment and Electronic Commerce

    Annex 7-A Lists of Commitments

    Annex 7-A-1 EU Party List of Commitments in Conformity with Article 7.7

    (Cross-Border Supply of Services)

    Annex 7-A-2 EU Party List of Commitments in Conformity with Article 7.13 (Establishment)

    Annex 7-A-3 EU Party List of Reservations in Conformity with Articles 7.18 and 7.19

    (Key Personnel and Graduate Trainees and Business Service Sellers)

    Annex 7-A-4 Korea Schedule of Specific Commitments in Conformity with Articles 7.7, 7.13,

    7.18 and 7.19

  • Annex 7-B MFN Treatment Exemption

    Annex 7-C List of MFN Exemptions

    Annex 7-D The Additional Commitment of Financial Services

    Understandings

    Understandings on the cross-border supply of insurance services as committed in the

    lists of commitments in Annex 7-A (List of Commitments)

    Understanding on the Korean postal reform plan

    Understanding concerning specific commitments on telecommunications services

    Understanding on regulation relating to zoning, urban planning and environmental

    protection

    Chapter Eight Payments and Capital Movements

    Chapter Nine Government Procurement

    Annex 9 BOT Contracts and Public Works Concessions

    Chapter Ten Intellectual Property

    Annex 10-A Geographical Indications for Agricultural Products and Foodstuffs

    Annex 10-B Geographical Indications for Wines, Aromatised Wines and Spirits

    Chapter Eleven Competition

    Chapter Twelve Transparency

    Chapter Thirteen Trade and Sustainable Development

    Annex 13 Co-operation on Trade and Sustainable Development

    Chapter Fourteen Dispute Settlement

    Annex 14-A Mediation Mechanism for Non-Tariff Measures

    Annex 14-B Rules of Procedure for Arbitration

    Annex 14-C Code of Conduct for Members of Arbitration Panels and Mediators

    Chapter Fifteen Institutional, General and Final Provisions

    Protocols

    Protocol Concerning the Definition of Originating Products and Methods of Administrative Co-operation

    Protocol on Mutual Administrative Assistance in Custom Matters

    Protocol on Cultural Co-operation

  • FREE TRADE AGREEMENT

    BETWEEN

    THE REPUBLIC OF KOREA, OF THE ONE PART,

    AND THE EUROPEAN UNION AND ITS MEMBER STATES,

    OF THE OTHER PART

  • THE REPUBLIC OF KOREA, hereinafter referred to as Korea,

    of the one part, and

    THE KINGDOM OF BELGIUM,

    THE REPUBLIC OF BULGARIA,

    THE CZECH REPUBLIC,

    THE KINGDOM OF DENMARK,

    THE FEDERAL REPUBLIC OF GERMANY,

    THE REPUBLIC OF ESTONIA,

    IRELAND,

    THE HELLENIC REPUBLIC,

    THE KINGDOM OF SPAIN,

    THE FRENCH REPUBLIC,

    THE ITALIAN REPUBLIC,

    THE REPUBLIC OF CYPRUS,

    THE REPUBLIC OF LATVIA,

    THE REPUBLIC OF LITHUANIA,

    THE GRAND DUCHY OF LUXEMBURG,

    THE REPUBLIC OF HUNGARY,

    MALTA,

    THE KINGDOM OF THE NETHERLANDS,

    THE REPUBLIC OF AUSTRIA,

    THE REPUBLIC OF POLAND,

    THE PORTUGUESE REPUBLIC,

    ROMANIA,

    THE REPUBLIC OF SLOVENIA,

  • THE SLOVAK REPUBLIC,

    THE REPUBLIC OF FINLAND,

    THE KINGDOM OF SWEDEN,

    THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND,

    Contracting Parties to the Treaty on European Union and the Treaty on the Functioning of the

    European Union, hereinafter referred to as the Member States of the European Union,

    and

    THE EUROPEAN UNION,

    of the other part:

    RECOGNISING their longstanding and strong partnership based on the common principles

    and values reflected in the Framework Agreement;

    DESIRING to further strengthen their close economic relationship as part of and in a manner

    coherent with their overall relations, and convinced that this Agreement will create a new

    climate for the development of trade and investment between the Parties;

    CONVINCED that this Agreement will create an expanded and secure market for goods and

    services and a stable and predictable environment for investment, thus enhancing the

    competitiveness of their firms in global markets;

    REAFFIRMING their commitment to the Charter of the United Nations signed in San

    Francisco on 26 June 1945 and the Universal Declaration of Human Rights adopted by the

    General Assembly of the United Nations on 10 December 1948;

    REAFFIRMING their commitment to sustainable development and convinced of the

    contribution of international trade to sustainable development in its economic, social and

    environmental dimensions, including economic development, poverty reduction, full and

    productive employment and decent work for all as well as the protection and preservation of

    the environment and natural resources;

    RECOGNISING the right of the Parties to take measures necessary to achieve legitimate

    public policy objectives on the basis of the level of protection that they deem appropriate,

    provided that such measures do not constitute a means of unjustifiable discrimination or a

    disguised restriction on international trade, as reflected in this Agreement;

    RESOLVED to promote transparency as regards all relevant interested parties, including the

    private sector and civil society organisations;

    DESIRING to raise living standards, promote economic growth and stability, create new

    employment opportunities and improve the general welfare by liberalising and expanding

    mutual trade and investment;

  • SEEKING to establish clear and mutually advantageous rules governing their trade and

    investment and to reduce or eliminate the barriers to mutual trade and investment;

    RESOLVED to contribute to the harmonious development and expansion of world trade by

    removing obstacles to trade through this Agreement and to avoid creating new barriers to

    trade or investment between their territories that could reduce the benefits of this Agreement;

    DESIRING to strengthen the development and enforcement of labour and environmental laws

    and policies, promote basic workers rights and sustainable development and implement this

    Agreement in a manner consistent with these objectives; and

    BUILDING on their respective rights and obligations under the Marrakesh Agreement

    Establishing the World Trade Organization, done on 15 April 1994 (hereinafter referred to as

    the WTO Agreement) and other multilateral, regional and bilateral agreements and

    arrangements to which they are party;

    HAVE AGREED as follows:

  • CHAPTER ONE

    OBJECTIVES AND GENERAL DEFINITIONS

    ARTICLE 1.1: OBJECTIVES

    1. The Parties hereby establish a free trade area on goods, services, establishment and

    associated rules in accordance with this Agreement.

    2. The objectives of this Agreement are:

    (a) to liberalise and facilitate trade in goods between the Parties, in conformity

    with Article XXIV of the General Agreement on Tariffs and Trade 1994

    (hereinafter referred to as GATT 1994);

    (b) to liberalise trade in services and investment between the Parties, in conformity

    with Article V of the General Agreement on Trade in Services (hereinafter

    referred to as GATS);

    (c) to promote competition in their economies, particularly as it relates to

    economic relations between the Parties;

    (d) to further liberalise, on a mutual basis, the government procurement markets of

    the Parties;

    (e) to adequately and effectively protect intellectual property rights;

    (f) to contribute, by removing barriers to trade and by developing an environment

    conducive to increased investment flows, to the harmonious development and

    expansion of world trade;

    (g) to commit, in the recognition that sustainable development is an overarching

    objective, to the development of international trade in such a way as to

    contribute to the objective of sustainable development and strive to ensure that

    this objective is integrated and reflected at every level of the Parties trade

    relationship; and

    (h) to promote foreign direct investment without lowering or reducing

    environmental, labour or occupational health and safety standards in th