One hundred days after entry into force of the most ambitious bilateral free trade agreement (FTA) ever negotiated by the EU, the first meeting of the EU-South Korea Trade Committee, took place in Seoul on 11 and 12 October.
Both sides took stock of the FTA's positive aspects for business operators. However, some barriers to implementation of the agreement still remain, mainly relating to regulatory issues. Positive steps have been agreed between the EU and South Korea to tackle these outstanding issues.
During the meeting in Seoul, both parties agreed on ways forward to bridge implementation issues in the areas of motor vehicles and electronics. As regards motor vehicles, market access issues on tyres, after-sales verification rules for diesel emissions and safety standards of cars were tackled. On electronic goods, the meeting addressed the need to recognize agreed ways of testing electronic products.
Commissioner De Gucht underlined the need for the EU and South Korea to use the free trade agreement and deepened partnership to help forge common standards in the future on products such as electric vehicles (ecars). Such a move is key to ensuring that Europe and South Korea remain leaders on standards for the world market so that their companies remain competitive and their consumers have the best choices.
Finally, the Trade Committee identified a number of areas where additional work is needed by both parties to reduce the administrative burden preventing free trade flows, such as complex procedures for imports of European agricultural products in South Korea.
On the sidelines of the meeting, Commissioner De Gucht invited the European business world to give feedback and inform his services of any difficulties with implementation of the agreement. Commissioner De Gucht also encouraged European companies to become certified as "approved exporters" with their national customs administration. This certification is necessary if European companies want to enjoy the abolition of customs duties in accordance with the agreement.
During a Seminar held earlier on this week, organised by the Occupational Health and Safety Authority (OHSA) in collaboration with the European Agency for Safety and Health at Work, it transpires that 50-60% of working days are lost to stress.
Gas Distributors, members of the GRTU, earlier this afternoon silently protested outside Parliament just as members of Parliament were reconvening for their afternoon session over the Arriva debacle with large Banners carrying the GRTU Logo and reading ‘Toholqux Arriva ohra Froga wahda bizzejjed din is-sena"
Aimed at growth through small businesses expansion support of businesses in the localities and increased capital expenditure – “GRTU’s main budget task this year is, growth trough utilization of unutilized economic resources” stated Vince Farrugia, Economist and Director General of GRTU Malta Chamber of SMEs.
Why did you become an entrepreneur? I am the type of person that grabs every valid opportunity that comes on my way.
A green economy is a dynamic, sustainable, and economically robust market system that responsibly utilizes scarce and finite natural resources, and that protects, restores, preserves, and enhances our environment, while improving the social and living conditions of workers and customers now and in the future.
The European Commission has concluded a very ambitious trade agreement with Ukraine. It goes beyond a classical FTA and will introduce many elements of the single market to the Eastern European country. The adoption of European standards will abolish the vast majority of market access barriers for goods and services in both directions. The agreement covers all trade-related areas (including intellectual property rights, customs, public procurement, energy, competition etc.).
