(MENAFN- Qatar News Agency) South Korea's exports of tariff-cut products to the European Union (EU) have acted as bulwarks for the country's weakening trade since the implementation of a bilateral free trade deal amid the region's deepening debt crisis, a report showed Wednesday.
According to the report by the Korea International Trade Association (KITA), shipments of tariff-lowered South Korean products to the world's single largest economic bloc jumped 16.5 percent on-year in the July-March period. The Seoul-Brussels free trade agreement (FTA) went into effect on July 1 last year, (Yonhap) News Agency reported today.
Exports of other goods not subject to tariff cuts slumped 22.1 percent on-year over the cited period, however, as the region suffered an economic slump, it added.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.