The first round of negotiations for the free trade agreement (FTA) between Central America and South Korea took place in Seoul from September 21 to 25. Among the main topics agreed upon were: the full content of the Transparency chapter, which includes aspects related to the publication of laws, regulations, procedures, and administrative resolutions of general application, and notification of information and review procedures. Likewise, the format, content, and structure of the tariff reduction proposals were agreed upon, and these will be exchanged on November 3.
During this first round, the negotiating groups worked on market access, trade defense, institutional provisions, dispute settlement, cooperation, rules and procedures of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, technical barriers to trade, and government procurement. The second round will take place from November 23 to 27 in San Salvador, where discussions on the aforementioned topics will continue. The negotiating groups on trade in services and investment will also begin their work.
Central America is negotiating this FTA as a bloc to facilitate trade between the two regions. In the region, Guatemala is the main destination for Korean exports, reaching more than 1 trillion pesos (TP4T1 billion) last year. This FTA is expected to be signed by the end of 2016.
For more information we recommend:
http://www.comex.go.cr/sala_prensa/comunicados/2015/septiembre/CP-1937.aspx