News story

UK welcomes EU-South Korea Free Trade Agreement

New opportunities for UK firms in South Korea after FTA is signed in Brussels.

From:
Department for Business, Innovation & Skills
Published
6 October 2010
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

皇冠体育app UK Government has welcomed the signing of the EU-South Korea FTA, which is estimated to be worth an extra 拢500 million to UK businesses based on current trading levels.

Under the agreement, virtually all tariffs will be removed from July 2011, resulting in 拢1.4 billion savings in duties per year for EU exporters.

皇冠体育app deal is expected to bring new opportunities for UK companies in the areas of:

  • Legal and financial services
  • Pharmaceuticals
  • Advanced engineering
  • Low carbon industry, including the renewables sector.

Updates to this page

Published 6 October 2010