Chile - South Korea Free Trade Agreement (FTA)

Free Trade Agreements (FTA) of Chile - South Korea Free Trade Agreements (FTAs)

Course summary Free Trade Agreement (FTA) Chile - South Korea

The Chile - Korea Free Trade Agreement (FTA) entered into force on 1 April 2004. "The Parties to this Agreement, consistent with Article XXIV of the General Agreement on Tariffs and Trade 1994 ("GATT") and Article V of the General Agreement on Trade in Services ("GATS"), which are part of the WTO Agreement, hereby establish a free trade area".

The objectives of this Agreement, as elaborated more specifically through its principles and rules, including national treatment, most-favoured-nation treatment and transparency, are to:
(a) encourage expansion and diversification of reciprocal trade between the Parties;

(b) eliminate barriers to trade in, and facilitate the cross-border movement of, goods and services between the territories of the Parties;

(c) promote conditions of fair competition in the free trade area;

(d) substantially increase investment opportunities between the territories of the Parties;

(e) provide adequate and effective protection and enforcement of intellectual property rights in each Party's territory;

(f) create effective procedures for the implementation and application of this Agreement, for its joint administration, and for the resolution of disputes; and

(g) establish a framework for further bilateral and multilateral cooperation in order to expand and enhance the benefits of this Agreement.

Korea’s exports to Chile grew from US$ 541 million in 2003 up to US$ 3.1 billion in 2007. Products like cars, small trucks, oil products, cellular phones, TV sets, computers, washing machines, air conditionings, construction machinery and polyester fibers are part of the Korean basket of goods sold to Chile with some degree of custom preferences. In term of value Korea has increased its sales to Chile at a 56.36% year-on-year base from 2004. Today more than 1,864 Korean products are sold by 2,348 Korean businesses to the Chilean consumer, becoming the 5th imports provider to Chile.

Bilateral Trade Korea Chile (2010):
- Exports: $2.95 billion
- Imports: $4.22 billion
- Investment (2010): $170 million

Example of the course: Free Trade Agreement (FTA) Chile - South Korea:

Master International Business for Korean students

Topics Covered in the Chile - Korea Free Trade Agreement (FTA)
- Initial Provisions
- Definitions
- Market Access for Goods
- Tariff Elimination
- Tariff Elimination Schedules
- Rules of Origin
- Specific Rules of Origin
- Customs Procedures
- Safeguard Measures
- Antidumping/CVD Matters
- Sanitary/Phytosanitary Measures
- Standard-Related Measures
- Investment
- Reservations and Exceptions
- Cross-Border Trade in Services
- Reservations and Exceptions
- Quantitative Restrictions
- Telecommunications
- Temporary Entry of Business Persons
- Competition
- Government Procurement
- Intellectual Property Rights
- Transparency
- Administration of the Agreement
- Dispute Settlement
- Exceptions
- Final Provisions

Example of the course: Free Trade Agreement (FTA) Chile - South Korea (Spanish):

 Educational level: Continuing education / Executive education programs.