Korea-ASEAN FTA Likely to Increase Exports of Steel Products

摘要

The Korean government has recently signed a frame documents with the 10 members of the Association of Southeast Asian Nations (ASEAN) for the free trade agreement (FTA) to implement gradual tariff cuts on a list of agreed products beginning July next year, and in this connection, local steelmakers are expecting to see their competitiveness improve in the overseas sales. According to a report released December 13 from the Korea Trade-Investment Promotion Agency (KOTRA) on the 'effect on Korea's exports from the signing of FTA between Korea and ASEAN,' there would be an effect to expand the Korea's key export items in sectors of machinery and electric home appliances in accordance with the settlement of basic terms and conditions of the FTA between Korea and the ASEAN member countries.