The review period shall be fixed from the beginning of the examination. It is the exporter`s responsibility to keep records of the origin of the goods for at least five years after the signing of the certificate of origin. The EU-South Korea trade deal expands the treaties you can compete for. In South Korea, EU companies can now apply for Build-Operate Transfer (BOT) (concession services) contracts. If your company is a European construction and services company, you can compete for large infrastructure projects in South Korea, for example. B the construction and operation of motorways. 7. If a certificate of origin is not duly completed or if additional information is required, information may be requested from the importer, exporter or producer before the initiation of a review in order to determine whether the certificate of origin is valid. Instructions for completing the Certificate of Origin can be found in Memorandum D11-4-14, Certificate of Origin under Free Trade Agreements.

The agreement effectively addresses unfair and anti-competitive trading practices, including prior to the agreement, European exporters of consumer electronics and household equipment to South Korea had to carry out double and expensive testing and certification procedures in South Korea to sell their products. Now, however, you can take advantage of an improved regulatory environment for your products. The customs authorities of the exporting country may encourage any exporter who exports products under the trade agreement to file origin declarations for products regardless of their value. The exporter must provide the customs authorities with sufficient guarantees to ensure that the originating status of the products and compliance with all other requirements of the Agreement (Protocol) can be verified. The customs authorities may withdraw the status of the approved exporter in the event of abuse. The majority of mutual agreements covered by the instrument are free trade agreements. Free trade agreements (FTAs) remove barriers to trade between members and provide preferential market access on a reciprocal basis. .

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