Abstract: The EU and Korea Free Trade Agreement (EKFTA) is the most comprehensive free trade agreement the EU has signed, under which it will eliminate tariffs on most products and liberalize all trade agreements, trade in services. The Agreement includes provisions on investment in services and industry as well as commitments in the areas of: protection of intellectual property rights (including geographical indications), public procurement, competition, transparent regulations and sustainable development. Specific commitments to eliminate and prevent non-tariff barriers to trade were agreed in the automotive, pharmaceutical and electronic sectors. The EKFTA Agreement consists of 15 chapters, many annexes and accessories, 3 Protocols, 4 interpretations and 1 Joint Declaration.
Participating in the EKFTA agreement, Korea has many opportunities with its available conditions and resources in economic development, but also many challenges for development cooperation. This article raises opportunities and challenges for Korea when participating in EKFTA as the basis for proposing orientations and solutions to maximize resources and minimize risks in cooperation bilateral relations between the EU and Korea
Keywords: Agreement, trade, EKFTA, EU, Korea.
Title: FREE TRADE AGREEMENT WITH EU AND OPPORTUNITIES, CHALLENGES FOR KOREA
Author: Vu Mai Phuong
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
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