Home / Knowledge / News / Textiles / FTA to boost Korean textile exports to Turkey
FTA to boost Korean textile exports to Turkey
Apr '13
The textile and apparel manufacturers of Korea are expecting a boost in exports to Turkey, as the Free Trade Agreement (FTA) between the two countries is scheduled to take effect from May 1, 2013. 
Korea and Turkey had started negotiations on a comprehensive FTA, including areas of trade in services and investments, back in March, 2010. Subsequently, after several rounds of negotiations, a FTA was signed by Korean Minister of Economy H.E. Taheo Bark and his Turkish Counterpart H.E. Zafer Çaglayan on 1 August 2012.
The Agreement on Trade in Goods, which is part of the FTA, foresees the elimination of customs duties on all industrial goods, including textiles and apparels, within maximum seven years. 
In a conversation with fibre2fashion, manager of International Trade Team at Korea Federation of Textile Industries, Mr. Sengloo Joo said, “Our main textile and apparel exports to Turkey are synthetic filament fabrics and knitted fabrics and we are expecting 20-25 percent reduction in export duty to the country with FTA.”
“The implementation of FTA with Turkey will benefit the Korean textile and apparel sector as well, as these products cannot be replaced with the textile and clothing products from countries including China and Indonesia,” he informs.
With the coming into force of Korea-Turkey FTA, South Korea will benefit with zero customs duty on 65 percent of its products to Turkey and Turkey will benefit with zero customs duty on 80 percent of its products shipped to Korea.
Over a period of ten years, the two countries will gradually reduce the customs duties to zero on 90 percent of all their tariff lines.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Apparel/Garments | On 24th Feb 2017

Q4FY17 EPS dips 11% at apparel retailer Macy's

For the thirteen weeks period ended January 28, 2017, earning per...

Textiles | On 24th Feb 2017

Net income slips at Westlake Chemicals in Q4

For the three months ended December 31, 2016, net income at US...

Interviews View All

Poojaa Kumar Deepak

Zeven's performance sports apparel is designed for the Indian body type,...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

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


Browse Our Archives


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