India Korea Preferential Trade Agreement

The Indian government and the Republic of Korea have signed the Comprehensive Economic Partnership Agreement (CEPA) to liberalize and facilitate trade in goods and services and increase investment between countries. The Export Inspection Board is the only agency to issue certificates of origin under this agreement. This comprehensive economic cooperation agreement exists between the Indian government and Malaysia. The Export Inspection Board is the only agency to issue certificates of origin under this agreement as of July 1, 2011. The agreement for South Korea added to a large list of bilateral and multilateral free trade agreements established under Korean President Roh Moo-hyun. [3] With regard to India, the negotiations coincided with the Look East initiative of then-Indian Prime Minister Manmohan Singh, which promised greater regional integration between India and East Asian markets. The Comprehensive Economic Partnership Agreement (CEPA) is a free trade agreement between India and South Korea. [2] The agreement was signed on August 7, 2009. [3] The signing ceremony took place in Seoul and the agreement was signed by Indian Trade Minister Anand Sharma and South Korean Trade Minister Kim Jong Hoon. [4] The negotiations lasted three and a half years and the first meeting took place in February 2006. The agreement was adopted by the South Korean Parliament on 6 November 2009.

[5] It was passed next week by the Indian Parliament. [2] After its adoption, the agreement came into force sixty days later, on 1 January 2010. [6] This is a free trade agreement. [2] The agreement will allow the Indian service industry in South Korea to have better access. Services include information technology, engineering, finance and the legal sector. [7] In South Korea, tariffs are reduced to less than 1%. [8] All this time, Korean companies have flooded India with cheaper imports of raw metals, steel and finished products. The government has also designated some agencies that issue non-preferential certificates of origin under Article II of the 1923 International Convention on the Simplification of Customs Procedures. Exporters wishing to apply for a certificate of non-preferential origin may apply to the flight procedures manual any agency listed in Schedule 4C.

I the following documents: Agencies mandated for the collection of a fee they have prescribed provide services related to the issuance of the certificate of origin, including the terms and conditions relating to the rules of origin, to the list of items covered by an agreement , the extent of tariff preference, verification and certification of eligibility. The agreement will ease restrictions on foreign direct investment.