In the agreement between the region and South Korea the rule of origin for Salvadoran Textiles was recognized, which will prevent the importation of fabrics to later be used in the manufacture of garments in El Salvador.
The Salvadoran government managed to include in the agreement the recognition by South Korea of a rule of origin for textiles, in order to protect the entire chain in a country where virtually all of the raw materials for the manufacture of garments are produced, with the exception of cotton.
Bilateral negotiations will continue in order to reach an agreement on an "appropriate balance of commercial interests" for both countries.
From a statement issued by Mineco:
Guatemala, November 16, 2016. Guatemala will continue the process of FTA negotiations with South Korea bilaterally. The other Central American countries plan to officially finalise negotiations in Managua, Nicaragua, during the meeting of Ministers and Secretaries in charge of foreign trade of each country.
Dairy products and some metalworking products, plastics, tires and wood were excluded from the trade agreement between Central America and China.
Bananas will not incur tariffs when entering South Korea for five years, pineapples for a period of seven years and pork for ten years.In addition to the terms of tariff reduction, the countries in the region unilaterally negotiated the exclusion of some goods produced locally.Guatemala announced that it will continue negotiations unilaterally.
In the seventh round of negotiation all chapters were finalised and what is left pending are technical matters from the list on access and origin which will be addressed in a final meeting.
From a statement issued by the Ministry of Foreign Trade of Costa Rica:
San Jose, October 31, 2016.- Today the seventh round of negotiations of the Free Trade Agreement between Central America and Korea came to a close in Seoul, South Korea. This meeting, which took place from October 24 to 31, enabled the parties to move towards a final agreement.
In the VI round agreements were reached on the chapters on Government Procurement, Employment and Dispute Resolution, and the in next round they will define the final document for technical and legal review.
From a statement issued by the Ministry of Economy and Finance in Guatemala:
Guatemala, October 5, 2016.The teams negotiating the FTA between Central America and South Korea held a sixth round of negotiations from September 26 to 30 in Managua, Nicaragua with the conclusion of three more chapters.
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.
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.
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.
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.
Sectors related to metal mechanics, tires, plastics, chemicals and electrics in Costa Rica have asked for their products to be excluded in the negotiation of a regional trade agreement with the Asian tiger.
The industrial and agricultural sectors are those who have objected in the process for negotiation of a free trade agreement with South Korea, arguing that some products would be hurt by the arrival of similar products from China.
Negotiations have been finalised on the environmental chapter and progress made on Trade Facilitation and the texts of the chapters on sanitary measures, technical barriers and government procurement.
From a statement issued by the Ministry of Economy of Guatemala:
Guatemala, May 30, 2016. From 23 to 27 May, the Guatemalan delegation of negotiators met with their Central American and Korean counterparts to advance negotiations of a Free Trade Agreement between Central America and South Korea.
In the third round issues such as market access, trade defense, institutional arrangements, dispute settlement, sanitary and phytosanitary measures were discussed.
From a statement issued by the Ministry of Foreign Trade of Costa Rica:
San Jose, March 02, 2016.- The third round of negotiations for a Free Trade Agreement between Central America and South Korea was held from 22nd to 26th of February in San Francisco, in the United States.
In the first round held in South Korea modalities and staging categories for trade were defined.
In Seoul, Korea, the First Round of Negotiations of the Free Trade Agreement between Central America and -TLC- South Korea was held.
After signing the general framework of negotiations last July, the Central American Work teams met from 21 to 25 September, with their counterparts from the Ministry of Trade, Economy and Energy of South Korea.
Central American governments have now signed the General Framework agreement with China so that negotiations can start in October.
From a statement issued by the Ministry of Foreign Trade in Guatemala:
Guatemala, July 31, 2015. Central America is prepared to negotiate as a bloc, a Free Trade Agreement with South Korea. Therefore, the deputy ministers in charge of foreign trade and trade negotiations in the region met yesterday in San Salvador, and agreed to and signed the General Framework for this negotiation.
A free trade agreement between Central America and the Asian tiger has aroused interest in agriculture and suspicion in the food industry.
As South Korea is a net importer of fresh food, the agriculture sector hopes to seize opportunities arising from a possible trade agreement with China, the first round of negotiations of which is scheduled to take place before the end of the year.
The South Korean government has proposed to Central American countries that they resume negotiations to sign a free trade agreement.
During a meeting between officials of the Ministry of Foreign Trade of Costa Rica and the deputy minister, Moon Jaedo, of the Ministry of Commerce, Industry and Energy (Motie) of South Korea, it was requested "... that the Central American countries evaluate opening up a process of negotiation for a free trade agreement. "