Talks should start on an E.U.-South Korea free trade agreement, t...
Talks should start on an E.U.-South Korea free trade agreement, the European Information & Communications Technology Industry Association said Monday. It warned that “eliminating duties on all Korean products in the CE sector could put the non-Korean CE companies…
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at a major competitive disadvantage.” Removing tariffs from industrial goods should be matched by elimination of non-tariff barriers, which have been “extremely effective in keeping European goods out of the Korean market,” the association said. The group believes that excluding “at least the most sensitive non-Information Technology Agreement (ITA) analogue/digital electronics products” from the FTA’s scope would be in the European CE industry’s best interest. The group wants “full application of the proposed ‘WTO Agreement on non-tariff barriers to trade related to electronics.'” Another solution would allow at least a seven-year phase-in of the tariff cuts on sensitive, non-ITA products, it said. Barriers besides tariffs on consumer electronics products should be eliminated completely during the transition, the European association said. The duty drawback for non-originating materials used in processing operations should be prohibited, it said.