Home / Knowledge / News / Cabinet approves CEPA with South Korea
Cabinet approves CEPA with South Korea
03
Jul '09
The Cabinet approved the signing of a Comprehensive Economic Partnership Agreement (CEPA) with South Korea. India-Korea CEPA comprises of six Agreements viz. Agreement on Trade in goods; Rules of Origin and Origin Procedures; Trade Facilitation and Customs Cooperation; Trade in Services including Specific Commitments; Investment and Dispute Settlement. India-Korea CEPA also contains chapters on “Competition” and IPR.

Trade in Goods : Korea have put additionally 60% of tariff lines, under immediate tariff liberalization for India. Most of the items are of India's export interest to Korea. This way India is going to benefit most from the tariff negotiation. Due care has been taken to protect the interest of agricultural and textile sectors.

India's exclusion and sensitive list contain mostly agricultural, textiles and auto-sectors items. No product has been offered for complete elimination of duty in this sector. The textiles and automobile sectors have been given sufficient protection and 90% of the auto items have been kept in the exclusion and sensitive list.

Services: India has been able to obtain substantial commitments over the Revised Offer tabled by Korea at WTO(WTO plus).A whole range of services have been opened for India. Limitations have been removed in Architectural, financial and Audio-visual services. Korea also offered commitments under Mode 4 in independent professionals, which it has not offered in any other bilateral agreement or at the WTO.

Investment: Salient provisions of the Investment chapter include market access for industries; national treatment; repatriation; safeguards against expropriation; investment protection; and settlement of disputes. Benefit of the Chapter is to be extended only to enterprises established under the law of the State and having substantial operations in that territory.

Press Information Bureau

Must ReadView All

Apparel/Garments | On 24th Mar 2017

UK online retail sales up 15% in February 2017

Online retail sales in UK have grown by 15 per cent year-on-year in...

Courtesy: Messe Frankfurt

Textiles | On 24th Mar 2017

Over 3341 exhibitors participate in Intertextile Shanghai

More than 3,341 exhibitors from 26 countries and regions participated ...

Apparel/Garments | On 24th Mar 2017

Tiruppur garment cluster hopeful of meeting export target

The Tirupur garment cluster is hopeful of meeting its target of...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search