The EU/ South Korea Trade Agreement comes to effect from 1 July 2011. This agreement is reciprocal so that South Korean goods imported in to the EU will benefit from tariff reductions as will EU exports to South Korea.
The scope of the agreement encompasses most goods although not all will benefit from nil customs duties from 1 July. Some sensitive products will not receive the full benefit of these arrangements for up to 15 years. Please contact us if you would like to know if your goods benefit under this Agreement or what conditions must be met.
The EU has signed preferential trade agreements with over 170 countries and preference continues to provide significant tariff benefits. However there are a number of traps that importers need to be aware of if you are to avoid being hit with retrospective duties where customs carry out audits and make post import challenges.
"Rob has provided customs advice on many occasions,always demonstrating deep knowledge of his subject tohelp the business mitigate its duty liabilities."
Stuart Reid, Financial Director Komatsu UK
"ITSs broad knowledge of Customs has proved invaluable"
D. Widdowson, Director of Financial Accounting Croda Chemicals Europe Ltd
"Rob explains clearly, and gets on with people. He isvery constructive and pragmatic. His loyalty to thereds is admirable, if misguided. One of my favouriteScousers!"
Nick Mallett, Partner DHM Stallard
"ITSs experience and knowledge has ensured projectswere completed with a favorable result."
K R Maddison, Financial Controller Bard Limited
"ITS helped us to reach a successful conclusion when HMCustoms tried to reject our proposed changes by usingtechnicalities."
D. Suddens, Finance Manager Blanc Aero Industries UK Ltd
"I have worked with Rob on complicated HMRC issues. Aswell as direct assistance, Rob has provided excellenttraining for operational staff. I recommend ITS."
G. Mitchell, Senior Operations Manager EPSON
"ITS have highlighted significant cost savingopportunities."
CW Winter, Financial Controller Special Metals Wiggin Ltd.
