We have obtained 'Approved Exporter' status for the territory of South Korea
The EU-South Korea Free Trade Agreement (FTA) has been provisionally applied since 2011 and was formally ratified in 2015.
It goes further than any previous agreements in lifting trade limitations and providing new market opportunities for businesses.
South Korea was and will be an important export market for us.
Getting prepared for the customs requirements for preferential origin goods was all-in-all not a complicated process, yet the paperwork took many months.
Any exporter in the EU or KR can issue an origin declaration for consignments not exceeding the value of EUR 6000. However, this was often a barrier for us and the recently obtained Approved Exporter status has solved this problem.
We can now officially issue origin declarations for consignments in excess of EUR 6000.
This achievement allows South Korean importers to get a 'preferential' rate of duty (reduced, or even zero) as long as the goods meet the preferential rules of origin.