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KOREA-CHILE
Korea-Chile FTA&EIA
Interactive trade indicators
Technical notes for performance indicators
Performance Indicators :
Select indicator...
Export Propensity
Export Shares
Export-import coverage
Import Dependence
Import Shares
Normalized Trade Balance
Trade Dependence
Trade Shares
Member Countries
Chile
Korea, Rep.of
Free Trade Agreement between the Government of the Republic of Korea and the Government of the Republic of Chile
Status :
Signed in
2003
.
In force since 2004
Scope :
Bilateral
Type :
FTA & EIA
WTO Notification :
GATT Art XXIV, GATS Art V
2004
Agreement text :
http://docsonline.wto.org/DDFDocuments/t/WT/REG/169-1.doc
Other links :
http://www.sice.oas.org/Trade/Chi-SKorea_e/ChiKoreaind_e.asp
WTO consideration process :
http://docsonline.wto.org/imrd/gen_redirectsearchdirect.asp?RN=0&searchtype=browse&query=@meta_Symbol%22WT/REG169/3%22&language=1&ct=DDFEnglish
GOODS
Tariffs
Positive list
Tariff elimination in 0, 5, or 10 years according to schedule (some exceptions up to 13 years). Tariff concessions from Korea cover 96.4 good traded (immediately 87.2 %) and from Chile 99% (immediate efefct for 41.8 %)
Accelerated tariff elimination through consultation
Rules of Origin
Tariff heading change
45% build down, 30% build up
No specific process required
Contingency Measures
Anti - Dumping :
Subject to GATT Art VI
Countervailing Duties :
Subject to GATT Art VI
Safeguards :
Subject to GATT Art XIX
Standards :
WTO plus
Notes:
SERVICES
WTO Notification (GATS Art. V)
:
Notified
Date of notification 08/04/2004
Consideration Process : Under Consideration
Liberalization Approach
:
Negative Lists
Modes Covered
Cross-border supply (Mode1)
Consumption abroad (Mode2)
Presence of natural persons (Mode4)
Specific Chapters on
Movement of natural persons
Professional services
Specific Sectors Excluded
Financial services
Air transport
Public Sectors carve-out
:
NAFTA-like (Article 1201:3(b))
Most Favoured Nation
:
Not featured
National Treatment
:
Binding
Market Access
:
Non-binding
Domestic Regulation
:
Non-binding (NAFTA-like)
Subsidies covered by services disciplines
:
Not covered
Denial of benefits for commercial presence
:
n.a
Notes
:
Link to schedules
:
INVESTMENT
Scheduling Approach
:
Negative Lists
Definition of investment
:
Covers portfolio investment
Most Favoured Nation
:
Binding
Economic integration exception to MFN
National Treatment
:
Binding
NT provision applies to entry and establishment rights
Fair and Equitable Treatment
:
Binding
Clarifying text on FET
Expropriation
:
Binding
Board of Directors and executive personnel
:
Binding
Invester - State arbitration
:
Denial of Benefits
:
Article 10.17 Denial of Benefits 1.A Party may deny the benefits of this Chapter to an investor of the other Party that is an enterprise of such Party and to investments of such investor if investors of a non-Party own or control the enterprise and the denying Party: (a)does not maintain diplomatic relations with the non-Party; or (b)adopts or maintains measures with respect to the non-Party that prohibit transactions with the enterprise or that would be violated or circumvented if the benefits or this Chapter were accorded to the enterprise or to its investments. 2.Subject to prior notification and consultation in accordance with Article 17.4 and 19.4, a Party may deny the benefits of this Chapter to an investor of the other Party that is an enterprise of such Party and to investments of such investors if investors of a non-Party own or control the enterprise and the enterprise has no substantial business activities in the territory of the Party under whose law it is constituted or organized.
Additional BIT exists between the parties
:
BIT list I :
Status: Superseded by PTA
BIT list II :
Status: Superseded by PTA
Notes
:
Link to schedules
:
TRADE FACILITATION
Customs procedures :
Yes
Article 5.1, 5.2, 5.3 and 5.4 of the Agreement
Customs valuation :
Yes
Article 3.8, 3.10 and 5.7 of the Agreement
Trade regulations publication and administration (transparency) :
No
E-Commerce / Paperless trade :
No
Cooperation in trade facilitation :
No
OTHER AREAS
Government Procurement :
Yes
Investment :
Yes
Competition Policy :
Yes
Intellectual Property :
Yes
Substantive ogligations and cooperation. very broad coverage. See more in Part 5, Chapter 16 of the Agreement.
Dispute Settlement :
Yes
Ad-hoc arbitration. Parties can block panels. If not appointed by a party, panelist drawn by lot froma roster.
Labor Mobility :
Yes
Labor and Environmental Standards :
Yes
Environmental commitments as part of the trade agreement with commitment to cooperation. Agreement does not deal with environmental standards but requests parties not to lower environmental standards in order to attract investment. Some exceptions related to environment but environmental protection is allowed within the chapter on snandardization and technical barriers to trade
Technical cooperation :
No
Institutional mechanism :
No
Notes:
-
RULES OF ORIGIN
Cumulation
Bilateral
Specific Process
No specific process required
Heading Change
Heading change necessary
De Minimis
8% (not chapters 1-24 unless CS; 8% of weight in chapters 50-63
Minimum Content
45 %build-down, 30% build up
Drawback
Not mentioned
Http Link
http://www.mofat.go.kr/pdffiles/Annex4.pdf
Notes
-
KOREA-CHILE
Korea-Chile FTA&EIA
Member Countries
Chile
Korea, Rep.of
Total: 2 countries
Free Trade Agreement between the Government of the Republic of Korea and the Government of the Republic of Chile
Status :
Signed in
2003
.
In force since
2004
Scope :
Bilateral
Type :
FTA & EIA
WTO Notification :
GATT Art XXIV, GATS Art V
2004
Agreement text :
http://docsonline.wto.org/DDFDocuments/t/WT/REG/169-1.doc
Other links :
http://www.sice.oas.org/Trade/Chi-SKorea_e/ChiKoreaind_e.asp
WTO consideration process :
http://docsonline.wto.org/imrd/gen_redirectsearchdirect.asp?RN=0&searchtype=browse&query=@meta_Symbol%22WT/REG169/3%22&language=1&ct=DDFEnglish
GOODS
Tariffs
Positive list
Tariff elimination in 0, 5, or 10 years according to schedule (some exceptions up to 13 years). Tariff concessions from Korea cover 96.4 good traded (immediately 87.2 %) and from Chile 99% (immediate efefct for 41.8 %)
Accelerated tariff elimination through consultation
Rules of Origin
Tariff heading change
45% build down, 30% build up
No specific process required
Contingency Measures
Anti - Dumping :
Subject to GATT Art VI
Countervailing Duties :
Subject to GATT Art VI
Safeguards :
Subject to GATT Art XIX
Standards :
WTO plus
Notes:
SERVICES
WTO Notification (GATS Art. V)
:
Notified
Date of notification : 08/04/2004
Consideration Process : Under Consideration
Liberalization Approach
:
Negative Lists
Modes Covered
Cross - Border Supply :
Yes
Consumption Abroad :
Yes
Movement of Natural Persons :
Yes
Specific Chapters on
Movement of natural persons :
Yes
Professional services :
Yes
Specific Sectors Excluded
Financial services :
Yes
Air transport :
Yes
Public Sectors carve-out
:
NAFTA-like (Article 1201:3(b))
Most Favoured Nation
:
Not featured
National Treatment
:
Binding
Market Access
:
Non-binding
Domestic Regulation
:
Non-binding (NAFTA-like)
Subsidies covered by services disciplines
:
Not covered
Denial of benefits for commercial presence
:
n.a
Notes:
Link to schedules
:
INVESTMENT
Scheduling Approach
:
Negative Lists
Definition of investment
:
Covers portfolio investment
Most Favoured Nation
:
Binding
Economic integration exception to MFN :
Yes
National Treatment
:
Binding
NT provision applies to entry and establishment rights :
Yes
Fair and Equitable Treatment
:
Binding
Clarifying text on FET :
Yes
Expropriation
:
Binding
Board of Directors and executive personnel
:
Binding
Invester - State arbitration
:
Yes
Denial of Benefits
:
Article 10.17 Denial of Benefits 1.A Party may deny the benefits of this Chapter to an investor of the other Party that is an enterprise of such Party and to investments of such investor if investors of a non-Party own or control the enterprise and the denying Party: (a)does not maintain diplomatic relations with the non-Party; or (b)adopts or maintains measures with respect to the non-Party that prohibit transactions with the enterprise or that would be violated or circumvented if the benefits or this Chapter were accorded to the enterprise or to its investments. 2.Subject to prior notification and consultation in accordance with Article 17.4 and 19.4, a Party may deny the benefits of this Chapter to an investor of the other Party that is an enterprise of such Party and to investments of such investors if investors of a non-Party own or control the enterprise and the enterprise has no substantial business activities in the territory of the Party under whose law it is constituted or organized.
Additional BIT exists between the parties
:
Yes
BIT list I :
Status: Superseded by PTA
BIT list II :
Status: Superseded by PTA
Notes
:
Link to schedules
:
TRADE FACILITATION
Customs procedures :
Yes
Article 5.1, 5.2, 5.3 and 5.4 of the Agreement
Customs valuation :
Yes
Article 3.8, 3.10 and 5.7 of the Agreement
Trade regulations publication and administration :
No
Use of ICT :
No
Mobility of business people :
No
Freedom of transit :
No
Transport and logistics :
No
Trade finance :
No
OTHER AREAS
Government Procurement :
Yes
Investment :
Yes
Competition Policy :
Yes
Intellectual Property :
Yes
Substantive ogligations and cooperation. very broad coverage. See more in Part 5, Chapter 16 of the Agreement.
Dispute Settlement :
Yes
Ad-hoc arbitration. Parties can block panels. If not appointed by a party, panelist drawn by lot froma roster.
Labor Mobility :
Yes
Labor and Environmental Standards :
Yes
Environmental commitments as part of the trade agreement with commitment to cooperation. Agreement does not deal with environmental standards but requests parties not to lower environmental standards in order to attract investment. Some exceptions related to environment but environmental protection is allowed within the chapter on snandardization and technical barriers to trade
Technical cooperation :
No
Institutional mechanism :
No
Notes:
-
RULES OF ORIGIN
Cumulation
Bilateral
Specific Process
No specific process required
Heading Change
Heading change necessary
De Minimis
8% (not chapters 1-24 unless CS; 8% of weight in chapters 50-63
Minimum Content
45 %build-down, 30% build up
Drawback
Not mentioned
Http Link
http://www.mofat.go.kr/pdffiles/Annex4.pdf
Notes
-
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