Asean Korea Free Trade Agreement Pdf

The ASEAN-Korea Free Trade Agreement (AKFTA) is a comprehensive economic partnership agreement between the Association of Southeast Asian Nations (ASEAN) and the Republic of Korea. The AKFTA was signed on August 24, 2006, and entered into force on January 1, 2010. It aims to liberalize trade and investment between the two regions and promote economic cooperation.

The AKFTA covers a wide range of trade and investment issues, including trade in goods, trade in services, investment, intellectual property rights, government procurement, and competition policy. It eliminates tariffs on almost all goods traded between ASEAN and Korea, with a few exceptions for sensitive products. It also provides for the liberalization of trade in services and the protection of intellectual property rights.

The AKFTA has brought significant benefits to both ASEAN and Korea. It has increased trade and investment flows between the two regions, which have grown rapidly since the agreement was signed. According to the ASEAN-Korea Centre, trade between ASEAN and Korea reached USD 160 billion in 2018, making Korea ASEAN`s fifth-largest trading partner.

The AKFTA has also helped to diversify trade and investment for both ASEAN and Korea. The agreement has encouraged Korean companies to invest in ASEAN countries, particularly in the manufacturing and services sectors. In turn, ASEAN countries have been able to export more products to Korea, including agricultural products, textiles, and electronic goods.

If you are interested in learning more about the ASEAN-Korea Free Trade Agreement, you can download the AKFTA PDF from the ASEAN-Korea Centre website. The PDF contains the full text of the agreement, as well as information on the implementation of the agreement and its impact on trade and investment flows between ASEAN and Korea.

In conclusion, the ASEAN-Korea Free Trade Agreement is a significant milestone in the economic relationship between ASEAN and Korea. It has provided a framework for liberalizing trade and investment between the two regions and promoting economic cooperation. The agreement has brought tangible benefits to both sides, and its impact will continue to be felt in the years to come.