South Korea And Canada Free Trade Agreement

The Intellectual Property (IP) provisions of the Canada-Korea Free Trade Agreement have guaranteed Canadian copyright, patent and trademark holders that their rights in the South Korean market will be fully respected. “South Korea is now the fourth largest market for Canada`s forest products industry and an important destination, as we insist that it export more to the Asia-Pacific region. This free trade agreement addresses existing tariff and non-tariff barriers to our forest products sales to South Korea and, as such, will help us meet our sector`s ambitious vision 2020 goal of achieving an additional $20 billion in economic activity from new products and markets by the end of the decade. Health measures help ensure food safety for consumers and are designed to prevent the introduction or spread of outbreaks. Plant health measures help prevent the introduction or spread of plant pests that can affect plants and trees. Health and plant health measures are a critical set of rules that affect all Canadians. WTO rights and obligations contribute to the failure of governments to regulate the protection of human, animal and plant life and health as cover to unnecessarily limit trade. The Canada-Korea Free Trade Agreement will cover virtually all aspects of Canada-South Korea trade, including trade in goods and services, investment, public procurement, non-tariff barriers, environmental and labour cooperation, and other sectors of economic activity. “Our industry depends on the competitiveness of exports and access to international markets and the creation of jobs and sales in our own country.

This agreement is essential to restore a level playing field for Canadian companies in the South Korean market, which is particularly important given the significant growth that the aerospace industry will experience in the Asia-Pacific region in the coming years. We commend the Government of Canada for this work and thank its representatives for their continued commitment to strengthening Canadian competitiveness in international markets. Canada and South Korea have a significant trade and investment relationship with tremendous growth potential. South Korea is Canada`s seventh largest trading partner and Asia`s third largest trading partner after China and Japan. As part of the Canada-Korea Free Trade Agreement, an SPS committee will allow experts to collaborate and consult with experts on SPS measures to improve cooperation and facilitate trade by discussing issues before they become problems.