EFTA and Korea hold seventh Joint Committee meeting under Free Trade Agreement

Delegations from the EFTA States and the Republic of Korea convened via Videoconference on 5 June 2020 for their seventh Joint Committee meeting under the EFTA – Korea Free Trade Agreement (FTA).

Ambassador Markus Schlagenhof from the Swiss State Secretariat for Economic Affairs acted as the EFTA Spokesperson, while the Korean delegation was led by Mr Keonki Roh, Director General at the Ministry of Trade, Industry and Energy.

On May 28, the Subcommittee on Customs and Origin Matters exchanged views on the latest developments and possible updates in a number of areas pertaining to rules of origin and other customs matters.

In the Joint Committee, delegations discussed the status of bilateral trade between the two sides and noted the significant increase in trade between the EFTA States and Korea since the entry into force of the FTA. The Joint Committee also reviewed and discussed possible further developments in issues related to rules of origin; market access for industrial, agricultural and fisheries products; technical barriers to trade; trade remedies; government procurement and trade and sustainable development. Issues on Maritime Transport have also been discussed.

During the Joint Committee meeting, EFTA and Korea formally adopted Joint Decision 1/2020 which updates appendices 2 and 4 to Annex I related to product specific rules.

Read more on the EFTA-Korea Free Trade Agreement and trade statistics between EFTA and Korea.