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FTA/Economic Cooperation
Korea-Colombia FTA set to go into effect
The Ministry of Trade, Industry and Energy announced that the Korea-Colombia FTA will go into effect at midnight on July 15, 2016 and Colombian tariffs on 4,390 Korean products will be removed and 2,797 items will see lowered tariffs. In addition, Colombia, not a signatory to the Government Procurement Agreement (GPA), agreed to open the government procurement, granting Korea access to the USD 42.6 billion (48.3 trillion won ) market. The Korean government pla date2016-07-14
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FTA/Economic Cooperation
Minister Joo holds talks with former Chilean president
Trade, Industry and Energy Minister Joo Hyunghwan (left) met former Chilean President Eduardo Frei in Seoul on July 12 to exchange views on how to further promote economic cooperation between the two countries by seeking improvements in such areas as the bilateral trade pact, the Pacific Alliance, and the Trans-Pacific Partnership. date2016-07-12
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FTA/Economic Cooperation
Korea, Saudi Arabia to host investment and cooperation committee meeting in 2nd half
Trade, Industry and Energy Minister Joo Hyunghwan met with his Saudi counterpart Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia, in Seoul on July 1, 2016 to discuss issues of the global petroleum market and ways to expand economic and business cooperation between the two countries. During the meeting, Minister Joo stressed the importance of Saudi Arabia for the country’s economic development and trade growth. Saudi Arabia is the largest oil suppl date2016-07-12
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FTA/Economic Cooperation
Minister Joo speaks at G20 Trade Ministers’ Meeting
Trade, Industry and Energy Minister Joo Hyunghwan spoke at the G20 Trade Ministers’ Meeting at the Shangri-La Hotel, Shanghai, on July 10. At the meeting, Minister stressed the G20 member countries need to work closer to boost trade despite growing protectionism. date2016-07-11
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FTA/Economic Cooperation
Minister Joo discusses economic cooperation with Saudi Energy Minister
date2016-07-01
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FTA/Economic Cooperation
Second Ministerial-Level Joint Committee to be Held on Korea-India CEPA
Second Ministerial-Level Joint Committee to be Held on Korea-India CEPA Minister of Trade, Industry and Energy Joo Hyunghwan will attend the Korea-India infrastructure industry cooperation forum, the Korea Plus opening ceremony and the second ministerial-level joint committee on the Korea-India CEPA in New Delhi, India, on June 17 and 18. * CEPA: Comprehensive Economic Partnership Agreement. The upcoming events, including the joint committee, will be held to examine the imple date2016-06-16
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FTA/Economic Cooperation
Korea-Columbia Free Trade Agreement goes into effect
Korea-Columbia Free Trade Agreement goes into effect Korea-Columbia free trade agreement will go into effect on July 15 , 2016. The Ministry of Trade, Industry and Energy has revealed that the government of Columbia notified the Korean embassy on June 15 that it has completed the process of ratification. On the basis of the clause that describes the effective date of the agreement, the Korea-Columbia FTA comes into effect 30 days after notification from the Columbian govern date2016-06-16
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FTA/Economic Cooperation
First Korea-Eurasian Economic Union (EEU) industry cooperation committee to be held
The Ministry of Trade, Industry and Energy is sending a delegation headed by Deputy Minister for Trade Lee Inho to Russia from June 15 to June 16. The delegation will hold the first Korea-Eurasian Economic Union (EEU) Industry Cooperation Committee in an effort to expand exports into the EEU region, which includes Russia. Attachment: 0615 Korea-Eurasia Awakens Unlimited Potential of Cooperation date2016-06-15
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FTA/Economic Cooperation
MOTIE hosts the first meeting of Korea-EEU Commission on Industrial Cooperation
The Eurasian Economic Union (EEU) was launched in January 2015. The Eurasian Economic Union (EEU) is an economic community that consists of Russia, Kazakhstan, Kyrgyzstan, Belarus and Armenia. The community has a high prospect of emerging as the EU of the East Europe, considering the region's rich natural resources and growth potential. Russia has the world's second largest deposit of natural gas, coals, and tungsten, and Kazakhstan has the world's second largest reserve of chrome date2016-06-15
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FTA/Economic Cooperation
Vice Minister Woo meets with Azerbaijani Vice Minister of Communications and High Technologies
Vice Minister Woo Taehee (left)) meets with Mammamov, Vice Minister of Communications and High Technologies of Azerbaijan, at the Lotte Hotel on June 14, 2016 to discuss issues of mutual interest including Korea-Azerbaijan bilateral trade and investment, plant exportation, and exchange of nuclear energy experts and technology. date2016-06-14