Update on EU- South Korea Free Trade Agreement

29 July 2011

HMRC has published an information paper (CIP (11)62)  providing further information on the application of the free trade agreement between the EU and South Korea. The key points cover:

• A link to “A guide to the new Reciprocal Preferential Trade Agreement with South Korea”
• Consignments for which no formal proof of origin is required
• Low value origin declarations
• The format for approved exporter numbers issued in South Korea

There are a number of key conditions that must be met in order for goods to benefit under a Free Trade Agreement. If you would like more information on how to meet these conditions and protect yourself from retrospective challenges by the customs authorities please contact us.

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