EU FREE TRADE DEAL WITH SOUTH KOREA MAY GIVE FLEXIBILITY TO UK DEALERS
October 1st, 2010
BY KEITH NUTHALL, WANG FANGQING
AUTO dealers in Britain will certainly see the affect of the European Union's (EU) recent signature of a free trade deal with South Korea. Once ratification procedures have been cleared, the EU's import duties on cars made in South Korea (mostly 10%) will disappear within 60 days.
The EU auto manufacturing sector thinks this is important: it has secured protections allowing the reimposition of these duties should there be a glut of exports from South Korea damaging their health. So it is clear this is no paperweight deal: on the ...
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