Wednesday, December 3, 2014

Canada-Korea FTA to Go Into Effect January 1st

The Honourable Ed Fast, Minister of International Trade, today announced that the Canada-Korea Economic Growth and Prosperity Act has received royal assent. This announcement coincides with the passage of the Canada-Korea Free Trade Agreement ("CKFTA") ratification bill in the South Korean National Assembly yesterday, which concludes South Korea’s ratification process.

With this latest milestone, Canada and South Korea are on track to bring the agreement into force on January 1, 2015, fulfilling the commitment made by Prime Minister Harper and South Korean President Park Geun-hye in March 2014 in Seoul and in September 2014 in Ottawa.

For the rule of origin is:

  • for apparel, single transformation and
  • for most home texiles, fabric forward.
Agathon Associates has prepared an Analyis of the Agreement's Textile and Apparel Provisions

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