Bilateral negotiation Between Nicaragua and South Korea

Prawns, cheese, honey, vegetables, peanut oil, peanuts, raw sugar and fruits are some of the products that people want to have duty free status under the FTA.

Thursday, August 18, 2016

In the framework of bilateral negotiations for free trade between the two countries, Nicaraguan businessmen pointed out that there are several products that are in the list for staged tax relief, such as shrimp, cheese, honey, vegetables, peanut oil, peanuts, sugar raw and fruits, but they are looking for a "better tariff treatment" for others that are pending negotiations.

You may want to read: "FTA with South Korea: Rules of Origin"

Jose Adan Aguerri, president of COSEP, told that "... 'We have yet to negotiate, and these are vital elements in the negotiation, pork, cattle (meat), refined sugar, and eventually also in this round we are looking at citrus, palm oil, textiles, clothing and footwear, as well as fruits, vegetables and legumes. "  

"...He mentioned that there are also other products that some people want better treatment for, such as coffee, bananas, squash, dragon fruit, passion fruit, cigarettes and cigars, among others. "

More on this topic

FTA with South Korea is Ratified

August 2019

It was announced that the National Assembly of South Korea ratified the Free Trade Agreement signed with Central America.

The announcement was made by Seok-hyun Lee, deputy of the Korean assembly, who reported on the evening of August 2: "... We, the Korean National Assembly last night ratified the FTA with the nations of Central America. I hope you will benefit each other."

Central America and the FTA with South Korea

February 2018

The signing of the trade agreement is scheduled for late February, a measure that bodes well for improving access to Korean high-tech products and increasing agro-exports from Central America.

A report by Moody's analyzes the impact expected in El Salvador and in the other countries of the region, from the entry into force of the free trade agreement with the Asian nation. 

FTA with South Korea: Rules of Origin

August 2016

Sanitary and phytosanitary measures, technical barriers to trade, rules of origin and competition rules were defined and progress was made on issues of tariff reduction.

From a statement issued by the Ministry of Economy in Guatemala:

The teams negotiating the FTA between Central America and South Korea ended the V round of negotiations with conclusions to four chapters of the treaty and progress made on two other issues.

Progress in FTA with South Korea

August 2016

Central American coffee will incur 0% tariff in 10 years, while bananas, vegetables and baby vegetables will be shielded from the entry into force of the agreement.

In the fifth round of negotiations which will be held in Seoul from August 8 to 12 it is expected that progress will be made on the definitions for the treatment of 9% of the universe of products that have not yet been analyzed.

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