EU Parliament Approves EU-South Korea FTA
On February 17, 2011, the European Parliament approved the European Union's free trade agreement with South Korea, which will come into effect in July 2011. The vote came after Parliament approved a safeguard clause to protect EU industry from import…
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surges and after receiving guarantees from Seoul that the new Korean legislation on car CO2 emission limits would not be detrimental to EU car makers. The FTA aims to eliminate about 98% of import duties and other trade barriers in manufactured goods, agricultural products and services over the next five years.