We, in partnership with the Federation of Korean Industries, will be hosting a Korea - Canada Business Symposium on September 22, 2014.
The event will feature a keynote address by Park Guen-hye, President of South Korea along with interventions from our President and CEO, the Hon. Perrin Beatty, and Chang Soo-huh, President of the Federation of Korean Industries. The event will also feature two panel discussions on the topics of the opportunities created by the new FTA and the future of Korea-Canada energy cooperation.
Korea is a key market for Canadian businesses. Last spring, Prime Minister Harper and Korean President Park Guen-hye agreed on a comprehensive free trade agreement, the first for Canada with an Asian-Pacific nation. Here are some key facts about the deal.
- South Korea gross domestic product: $1.1 trillion
- Canada gross domestic product: $1.8 trillion
- Canada-South Korea merchandise trade in 2012: $10.1 billion
- Average South Korea tariffs on Canadian goods: 13.3%
- Average Canadian tariffs on South Korean goods: 4.3%
- Tariff lines to be eliminated by South Korea once deal fully implemented: 98.2%
- Tariff lines to be eliminated by Canada once deal fully implemented: 97.8%
- Tariff lines to be eliminated by South Korea on first day of implementation: 81.9%
- Tariff lines to be eliminated by Canada on first day of implementation: 76.4%