- Registration date2024-12-16
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The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that its Office of the Minister for Trade and the European Commission are entering the seventh official negotiating round for a bilateral Digital Trade Agreement (DTA) from December 16–17 in Seoul.
On the margins of the bilateral Free Trade Agreement (FTA) Trade Committee meeting in October 2023, the two sides launched the Korea-EU DTA negotiations based on the shared understanding for the need to upgrade e-commerce rules under the Korea-EU FTA in order to adequately respond to the evolving trade landscape amid the digital trade expansion and emergence of new digital trade issues such as data and cybersecurity.
Following a series of six negotiating rounds with the aim of establishing high-level digital trade norms, this seventh round seeks to move the previous negotiations forward in an effort to narrow differences.
The Korea-EU DTA is expected to help lay down a stable digital trade cooperation base for both sides through invigorating the trade of digital products and services by cutting transaction costs and catalyzing the digitization of the entire trade process, while also facilitating Korean businesses’ data collection and utilization activities with the guarantee of free data transfer.