MERCOSUR and Korea began the First Round of Negotiations for a Free Trade Agreement. The meeting of the authorities will take place from September 11 to 14, 2018 in the city of Montevideo.
The Argentine delegation is headed by the Secretary of International Economic Relations of the Ministry of Foreign Affairs, Horacio Reyser Travers. The Korean delegation is led by the Director General for Free Trade Agreement Negotiations of the Ministry of Commerce, Industry and Energy, Kijune KIM.
Tariffs and sanitary measures
Korea is one of the world's leading economies and an interesting market for Argentina. It has a large number of consumers who demand quality food.
The agreement is expected to improve the conditions of access to the Korean market for agro-industrial products through the reduction of tariffs and the harmonization of technical, sanitary and phytosanitary measures.
The objective is Increase and diversify exports (US$ 506,2 million, in 2017), currently concentrated in cereals, soybean flour and oil, minerals and fish.
Furthermore, given Korea's growing importance as a global investor, it is hoped that a future agreement will boost FDI flows from that country to Argentina.
Advocacy Committees
In this first round, the working groups on Trade in Goods; Technical Barriers to Trade; Sanitary and Phytosanitary Measures; Trade Defense; Trade in Services; Cooperation; Investments; Trade and Sustainable Development; Competition; Intellectual Property Rights; Government Procurement; Dispute Resolution and Institutional Affairs are meeting.
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