Trading with South Korea
On the 2nd anniversary of the EU / Korea free trade agreement it is interesting to note that the EU trade is in surplus which is encouraging for EU exporters. There are a few pointers to consider if you are trading with Korea
- Exporters - The point of the Free Trade Agreement is to lower and eventually eradicate duties between the EU and Korea so if you are exporting to Korea, be aware that there are special rules so that your customer can claim preferental duty rates. This includes documentation and proving the goods 'qualify' for preference. Contact us if you need to discuss further.
As well as the FTA Korea has an AEO program so if you are not AEO authorised it is worth consideration given that Korean companies are looking to buy from the EU. AEO accreditation may assist in securing new business and retaining existing business. Further details of AEO can be found on www.thecustomspeople.co.uk
-Importers - If you import from Korea be sure you claim any available preferential rates of duty as some companies have forgotten to. Again contact us if you need any assistance