EU/WTO ROUND UP – CONFECTIONERY COMPANIES BENEFIT FROM EU BILATERAL TRADE DEALS
November 1st, 2009
BY KEITH NUTHALL
WITH the World Trade Organisation's (WTO) Doha Development Round in the doldrums this year, the European Union (EU) has been focusing on bilateral trade deals and European confectionery producers will benefit.
The most important of recently struck agreements has been an EU-South Korea trade deal, which will create a virtual free trade zone between the signatories. Confectionery duties in South Korea will tumble for EU exports. For instance, 8% tariffs on chocolate and cocoa powder will be phased out over six years; meanwhile South Korea's 8% ...
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