SEOUL: A recent study has reported that South Korean exports of items benefitting from high tariff cuts under the South Korea-China free trade agreement(FTA) have gone up. A study by the Korea International Trade Association’s Institute for International Trade unveiled on Sunday showed that items receiving tariff cuts of three percentage points or more had seen trade volume grow exponentially.
The items include applied electronics and metal machine tools, which saw exports grow by almost 98 percent and 30 percent respectively. The Seoul-Beijing FTA took effect on December 20th last year, triggering the first round of tariff cuts. The second round of cuts took effect on January first this year.
A recent study has reported that South Korean exports of items benefitting from high tariff cuts under the South Korea-China free trade agreement(FTA) have gone up.
A study by the Korea International Trade Association’s Institute for International Trade unveiled on Sunday showed that items receiving tariff cuts of three percentage points or more had seen trade volume grow exponentially. The items include applied electronics and metal machine tools, which saw exports grow by almost 98 percent and 30 percent respectively.
The Seoul-Beijing FTA took effect on December 20th last year, triggering the first round of tariff cuts. The second round of cuts took effect on January first this year. Monday marks 100 days since the deal took effect.
