SIGNING OF EU-SOUTH KOREA TRADE DEAL SPARKS PROTEST FROM EUROPEAN CAR MAKERS
October 1st, 2009
BY KEITH NUTHALL
THE EUROPEAN Automobile Manufacturers Association (EMEA) has condemned a European Union (EU)-South Korea free trade agreement, initialed today (15-10), for giving Korean automakers an unfair advantage in EU markets.
At the heart of ACEA's concern is a "duty drawback" provision allowing South Korean manufacturers to reclaim duties paid on imported car parts and components from low-cost neighbouring countries such as China, while benefiting from the scrapping of EU customs duties for assmbled vehicles.
ACEA's director of communications ...
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