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KOREA-PERU
Korea-Peru 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
Korea, Rep.of
Peru
Free Trade Agreement between Republic of Korea and the Republic of Peru
Status :
Signed in
2011
.
In force since 2011
Scope :
Bilateral
Type :
FTA & EIA
WTO Notification :
GATT Art XXIV, GATS Art V
2011
Agreement text :
http://www.fta.go.kr/new/pds/fta_korea/peru/eng.pdf
Other links :
http://www.mofat.go.kr/ENG/policy/fta/status/effect/peru/index.jsp?menu=m_20_80_10&tabmenu=t_2&submenu=s_7
WTO consideration process :
http://docsonline.wto.org/imrd/gen_redirectsearchdirect.asp?RN=0&searchtype=browse&query=@meta_Symbol%22WT/REG298/1%22&language=1&ct=DDFEnglish
GOODS
Tariffs
Goods are liberalized according to schedule, which includes inmediate liberalization,
Also categories for tariff elimination in 3, 4, 5,7, 8, 10, 12, 15, 16 or 17 years.
Some exclusions
Rules of Origin
Product Specific Rules of Origin
Contingency Measures
Anti - Dumping :
Article VI of GATT and the Antidumping Agreement
Countervailing Duties :
Article VI of GATT and the Agreement on Subsidies and Countervailing Measures
Safeguards :
Article XIX of GATT and Agreement on Safeguards. Bilateral Safeguard Measure (Chapter 8)
Standards :
WTO plus. SPS (Chapter 6), TBT (Chapter 7)
Notes:
SERVICES
WTO Notification (GATS Art. V)
:
Notified
Date of notification 09/08/2011
Consideration Process : Factual Presentation issued
Liberalization Approach
:
Negative Lists
Modes Covered
Cross-border supply (Mode1)
Consumption abroad (Mode2)
Commercial presence (Mode3)
Presence of natural persons (Mode4)
Specific Chapters on
Financial services
Telecommunications
Movement of natural persons
Specific Sectors Excluded
Financial services
Air transport
Public Sectors carve-out
:
GATS-like (Article I:3(b))
Most Favoured Nation
:
Binding
National Treatment
:
Binding
Market Access
:
Binding
Domestic Regulation
:
Non-binding (NAFTA-like)
Subsidies covered by services disciplines
:
Not covered
Denial of benefits for commercial presence
:
Subject to prior notification and consultations8, a Party may deny the benefits of this Chapter to a service supplier of the other Party if the service supplier is an enterprise owned or controlled by persons of a non-Party or of the denying Party and the enterprise has no substantial business activities in the territory of the other Party.
Notes
:
Link to schedules
:
INVESTMENT
Scheduling Approach
:
Negative Lists
Definition of investment
:
Limited to FDI
Most Favoured Nation
:
Binding
National Treatment
:
Binding
NT provision applies to entry and establishment rights
Fair and Equitable Treatment
:
Binding
Clarifying text on FET
Expropriation
:
Binding
Clarifying text
Board of Directors and executive personnel
:
Binding
Invester - State arbitration
:
Denial of Benefits
:
Subject to prior notification and consultations, and in accordance with the procedures set out in Article 21.2 (Notification and Provision of Information), 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 where the Party establishes that the enterprise is owned or controlled by persons of a non-Party, or of the denying Party, and has no substantive business operations in the territory of the other Party.
Additional BIT exists between the parties
:
BIT list I : Agreement between the Government of the Republic of Korea and the Government of the Republic of Peru for the Promotion and Reciprocal Protection of Investments, signed on June 3, 1993
Status: Superseded by PTA
BIT list II :
Status:
Notes
:
Link to schedules
:
TRADE FACILITATION
Customs procedures :
Yes
Chapter 5
Customs valuation :
Yes
Article 2.13
Trade regulations publication and administration (transparency) :
Yes
Article 5.10
E-Commerce / Paperless trade :
Yes
Article 5.8
Cooperation in trade facilitation :
No
OTHER AREAS
Government Procurement :
Yes
Chapter 16
Investment :
Yes
Chapter 9
Competition Policy :
Yes
Chapter 15
Intellectual Property :
Yes
Chapter 17
Dispute Settlement :
Yes
Chapter 23
Labor Mobility :
No
Labor and Environmental Standards :
Yes
Chapter 18 (Labour), Chapter 19 (Environment)
Technical cooperation :
Yes
Chapter 20
Institutional mechanism :
Yes
Chapter 22
Notes:
RULES OF ORIGIN
Cumulation
Bilateral
Specific Process
For textiles products in HS Chapter 63
Heading Change
Chapter, heading and subheading change
De Minimis
10% of value. For goods in HS Chapters 50-63 10% of total weight
Minimum Content
40, 50 or 55%. Also 35%build up method and 45% build down method
Drawback
Http Link
http://www.acuerdoscomerciales.gob.pe/images/stories/corea/Ingles/03_KPFTA_Rules_of_Origin_Annex_3A_PSR.pdf
Notes
KOREA-PERU
Korea-Peru FTA&EIA
Member Countries
Korea, Rep.of
Peru
Total: 2 countries
Free Trade Agreement between Republic of Korea and the Republic of Peru
Status :
Signed in
2011
.
In force since
2011
Scope :
Bilateral
Type :
FTA & EIA
WTO Notification :
GATT Art XXIV, GATS Art V
2011
Agreement text :
http://www.fta.go.kr/new/pds/fta_korea/peru/eng.pdf
Other links :
http://www.mofat.go.kr/ENG/policy/fta/status/effect/peru/index.jsp?menu=m_20_80_10&tabmenu=t_2&submenu=s_7
WTO consideration process :
http://docsonline.wto.org/imrd/gen_redirectsearchdirect.asp?RN=0&searchtype=browse&query=@meta_Symbol%22WT/REG298/1%22&language=1&ct=DDFEnglish
GOODS
Tariffs
Goods are liberalized according to schedule, which includes inmediate liberalization,
Also categories for tariff elimination in 3, 4, 5,7, 8, 10, 12, 15, 16 or 17 years.
Some exclusions
Rules of Origin
Product Specific Rules of Origin
Contingency Measures
Anti - Dumping :
Article VI of GATT and the Antidumping Agreement
Countervailing Duties :
Article VI of GATT and the Agreement on Subsidies and Countervailing Measures
Safeguards :
Article XIX of GATT and Agreement on Safeguards. Bilateral Safeguard Measure (Chapter 8)
Standards :
WTO plus. SPS (Chapter 6), TBT (Chapter 7)
Notes:
SERVICES
WTO Notification (GATS Art. V)
:
Notified
Date of notification : 09/08/2011
Consideration Process : Factual Presentation issued
Liberalization Approach
:
Negative Lists
Modes Covered
Cross - Border Supply :
Yes
Consumption Abroad :
Yes
Commercial Presence Abroad :
Yes
Movement of Natural Persons :
Yes
Specific Chapters on
Financial services :
Yes
Telecommunications :
Yes
Movement of natural persons :
Yes
Specific Sectors Excluded
Financial services :
Yes
Air transport :
Yes
Public Sectors carve-out
:
GATS-like (Article I:3(b))
Most Favoured Nation
:
Binding
National Treatment
:
Binding
Market Access
:
Binding
Domestic Regulation
:
Non-binding (NAFTA-like)
Subsidies covered by services disciplines
:
Not covered
Denial of benefits for commercial presence
:
Subject to prior notification and consultations8, a Party may deny the benefits of this Chapter to a service supplier of the other Party if the service supplier is an enterprise owned or controlled by persons of a non-Party or of the denying Party and the enterprise has no substantial business activities in the territory of the other Party.
Notes:
Link to schedules
:
INVESTMENT
Scheduling Approach
:
Negative Lists
Definition of investment
:
Limited to FDI
Most Favoured Nation
:
Binding
National Treatment
:
Binding
NT provision applies to entry and establishment rights :
Yes
Fair and Equitable Treatment
:
Binding
Clarifying text on FET :
Yes
Expropriation
:
Binding
Clarifying text :
Yes
Board of Directors and executive personnel
:
Binding
Invester - State arbitration
:
Yes
Denial of Benefits
:
Subject to prior notification and consultations, and in accordance with the procedures set out in Article 21.2 (Notification and Provision of Information), 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 where the Party establishes that the enterprise is owned or controlled by persons of a non-Party, or of the denying Party, and has no substantive business operations in the territory of the other Party.
Additional BIT exists between the parties
:
Yes
BIT list I : Agreement between the Government of the Republic of Korea and the Government of the Republic of Peru for the Promotion and Reciprocal Protection of Investments, signed on June 3, 1993
Status: Superseded by PTA
BIT list II :
Status:
Notes
:
Link to schedules
:
TRADE FACILITATION
Customs procedures :
Yes
Chapter 5
Customs valuation :
Yes
Article 2.13
Trade regulations publication and administration :
Yes
Article 5.10
Use of ICT :
Yes
Article 5.8
Mobility of business people :
No
Freedom of transit :
No
Transport and logistics :
No
Trade finance :
No
OTHER AREAS
Government Procurement :
Yes
Chapter 16
Investment :
Yes
Chapter 9
Competition Policy :
Yes
Chapter 15
Intellectual Property :
Yes
Chapter 17
Dispute Settlement :
Yes
Chapter 23
Labor Mobility :
No
Labor and Environmental Standards :
Yes
Chapter 18 (Labour), Chapter 19 (Environment)
Technical cooperation :
Yes
Chapter 20
Institutional mechanism :
Yes
Chapter 22
Notes:
RULES OF ORIGIN
Cumulation
Bilateral
Specific Process
For textiles products in HS Chapter 63
Heading Change
Chapter, heading and subheading change
De Minimis
10% of value. For goods in HS Chapters 50-63 10% of total weight
Minimum Content
40, 50 or 55%. Also 35%build up method and 45% build down method
Drawback
Http Link
http://www.acuerdoscomerciales.gob.pe/images/stories/corea/Ingles/03_KPFTA_Rules_of_Origin_Annex_3A_PSR.pdf
Notes
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