Coverage
What this agreement covers.
Goods, services, investment — comprehensive. First EU FTA with Asian nation.
Key benefits
Why this agreement matters.
- ✓ First EU FTA with an Asian nation
- ✓ 98.7% tariff elimination by 2016
- ✓ Strong provisions on automobiles, electronics, shipbuilding
- ✓ Benchmarks for India-EU FTA automotive and electronics negotiations
India position
How this FTA relates to India.
Third-party context — affects Indian exporters to South Korea and EU
Aggregate trade volume among parties: USD 90B
Risk framework
FTA compliance risks.
| Risk | Assessment | Mitigation |
|---|---|---|
| EU-Korea FTA gives EU pharma and chemicals 0% access to South Korea — competing with Indian suppliers | Medium — Indian pharma in Korea faces MFN while EU at 0% | Pursue India-Korea CEPA expansion; differentiate on price and product profile |
| Korean NTBs (technical standards) persist despite FTA | Medium — TBT/SPS measures still affect market access | Pre-certify to Korean standards (MFDS for pharma, KC mark for electronics) before shipment |
Beneficiary verticals
Which sectors benefit.
Frequently asked
FAQ · EU-Korea FTA.
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