PLASTICS INDUSTRY TO BENEFIT FROM EU-SOUTH KOREA TRADE DEAL
October 1st, 2009
BY KEITH NUTHALL
THE EUROPEAN Commission has unveiled details of how the new South Korean-European Union (EU) trade agreement will benefit the plastics sector in Europe and South Korea. Upon ratification of the agreement, duties on EU imports of most plastics products will disappear. They are currently mostly 6.5%, although some are already duty free or attract lower duties. Similarly, South Korea's tariffs on EU exports of plastics will also be scrapped once the agreement is in force: here again the vast majority of duties are currently 6.5%.
The plastics ...
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