The EU-South Korea trade deal expands the treaties you can compete for. In South Korea, EU companies can now apply for Build-Operate Transfer (BOT) (concession services) contracts. If your company is a European construction and services company, you can compete for large infrastructure projects in South Korea, for example. B the construction and operation of motorways. 1 July 2019 marks the eighth anniversary of the EU-South Korea Free Trade Agreement. The agreement phases out tariffs on industrial and agricultural goods. The free trade agreement also covers non-tariff barriers, notably in the automotive, pharmaceutical, medical device and electronics sectors. 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. The agreement was the most comprehensive the EU has ever negotiated so far: import duties on all products have been almost eliminated and trade in services is deeply liberal.
It contains provisions on intellectual property (including geographical indications), public procurement, competition, regulatory transparency and sustainable development. There are also specific obligations against non-tariff barriers in sectors such as automotive, pharmaceuticals and electronics. [4] You can benefit from a more open South Korean services market under the trade agreement…
