EU, South Korea FTA To Address Nontariff Barriers

Law360, San Diego (June 29, 2011, 3:39 PM EDT) -- The European Union said Wednesday that its free trade agreement with South Korea will be a game changer for its trade relations with Asia and will tackle nontariff barriers across automotive, pharmaceutical, consumer electronics and other markets.

The agreement, which marks the EU’s first trade deal with an Asian country, is set to apply as of July 1 and will take full effect once all EU member states have ratified the agreement according to their own laws and procedures.

South Korea and the EU will eliminate...
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