Canada and South Korea Free Trade Agreement – Who Benefits?

Last week, Canadian Prime Minister Stephen Harper and South Korean President Park Geun-hye signed a landmark free trade agreement between the two Canada and South Koreacountries. The agreement marked the end of a ten-year process and the first such free trade deal for Canada with an Asian country. South Korea isn’t a new market for Canadians, it’s currently the country’s seventh-largest trading partner and third largest in Asia after China and Japan. However, in recent years, exports from Canada to South Korea have declined and imports have increased. This is said to have been caused in great part due to this lack of a free-trade agreement. The expectation for Canada is that export figures will climb with the new agreement.

“When you think Asia, you think of the growth of its population and their increase in spending power,” said Alberta MP Chris Warkentin. “And having easier access to their market means access to more than 50 million citizens.”

South Korea is the world 15th biggest economy, and is a gateway to emerging and fast growing markets in the Asia-Pacific region. “It’s very important for Canada in a strategic sense to be a player in the Asia-Pacific region. All of the statistics show that that will be the region of the world where there will be most economic growth.  And for Canada, it’s important to be there. This will be an indication that Canada is a serious player in the Asia-Pacific economy” said Canadian International Trade Lawyer, Lawrence Herman.

– Which Canadian exporters will likely benefit the most?

Canadian exports of pork and beef are expected to greatly benefit from the deal, as it has been said that Canadian exports to South Korea have greatly declined since the US-South Korea free trade deal took effect in 2007. Other key Canadian exports that will likely see an increase are lumber, grains, oil seeds, food products (notably: rye whisky, ice wine, maple sugar, fish and seafood, lentils and chickpeas), and aerospace products.

– Which South Korean imports are expected to increase now that Canadian consumers can pay less for them?

  • Vehicles: South Korean-made makes such as Kia and Hyundai.
  • Appliances: refrigerators, stoves, washers and dryers made by LG and other South Korean brands
  • Electronics: digital cameras, video camcorders and TVs made by Samsung and others in South Korea.
  • Apparel and Footwear: Clothes and shoes made in South Korea

For more information on specific changes in terms of duties and tariff lines resulting from the new deal, check out the Delmar website or contact us. For more in depth information on the agreement, you can check out the Foreign Affairs, Trade and Development Canada website.

50 Comments Add yours

  1. J’espere que vous en avez d autre de ce niveau sous le coude !

  2. Having read this I believed it was very enlightening.
    I appreciate you spending some time and effort to
    put this informative article together. I once again find
    myself spending way too much time both reading and commenting.
    But so what, it was still worth it!

  3. Aw, this was an exceptionally nice post. Taking a few minutes
    and actual effort to create a very good article… but what
    can I say… I procrastinate a whole lot and never seem to get nearly
    anything done.

  4. Hey there! I know this is somewhat off topic but I was
    wondering which blog platform are you using for this site?
    I’m getting fed up of WordPress because I’ve had issues with hackers and
    I’m looking at alternatives for another platform.
    I would be awesome if you could point me in the direction of a good platform.

  5. Try your hand work by playing games side by side.
    With the ease of Internet, the game to your mobile app
    and has patrolled over 4, 000 free mobile games and download unlimited fun. Whatever mobile
    game, select the mobile application delivery, and
    a disastrous Mega Multiplex Food Plaza. There are 25 levels that
    are successful in securing the emotional attention of the Master.

  6. A mobile phone games using WAP Wireless Application brave frontier
    hack Protocol. This option definitely adds a more interactive item as you like
    to spend one s earnings. This way, and you’ve missed your
    opportunity.

  7. Games also teach people about the activities for angry birds friends cheats the game more and win. More than 20, 000 changes in facebook development and its application use.

    With the advancement of internet technology entertainment has gone through a angry birds friends cheats number of mobile
    users to create a totally unique experience. These plays are normally embedded into the transaction process,
    it is a tough time bound schedule. Though mobiles come loaded with 25 exciting missions and full of funny
    effects like ink splashes!

  8. Howdy, There’s no doubt that your web site might be having internet browser compatibility
    problems. When I take a look at your site in Safari, it looks fine
    however, when opening in I.E., it has some overlapping issues.
    I just wanted to provide you with a quick heads up! Besides that, great site!

  9. Bernardo says:

    Great article! We are linking to this particularly great article on our site.
    Keep up the great writing.

  10. Com located on 1344 West 15th Street to inquire about
    a game. If you live on line gaming such dayz download as GoGamer and Half.
    Matt: I was immediately pining for another adventure, thrill, suspense, all-the-while retaining a dreamlike sentiment that still have fun with your close friends to keep replacing your games again until
    you do something else. Gamers who only rent one or two, not to buy Runescape gold.

  11. Autumn says:

    Fantastic beat ! I wish to apprentice while you amend your site,
    how can i subscribe for a blog site? The account aided me
    a acceptable deal. I have been tiny bit acquainted of this your broadcast offered vivid
    transparent idea

  12. Indiana says:

    What’s up to all, it’s in fact a good for me to visit
    this web site, it contains valuable Information.

  13. That is really attention-grabbing, You’re a very professional blogger.
    I have joined your feed and stay up for seeking more of your wonderful post.
    Also, I have shared your website in my social networks

  14. Victoria says:

    Generally I do not read article on blogs, but I would like to say that
    this write-up very forced me to check out and do it!
    Your writing style has been surprised me. Thanks, very nice post.

  15. This design is spectacular! You definitely know how to keep
    a reader entertained. Between your wit and your videos, I was
    almost moved to start my own blog (well, almost…HaHa!) Excellent job.
    I really loved what you had to say, and more than that, how you presented it.
    Too cool!

  16. Hildegarde says:

    Hi there, of course this paragraph is actually pleasant and I have
    learned lot of things from it concerning blogging. thanks.

  17. Write more, thats all I have to say. Literally, it seems as though you
    relied on the video to make your point. You obviously know what youre talking about, why throw away your
    intelligence on just posting videos to your blog when you could be giving us something informative to read?

  18. Simply wish to say your article is as astonishing. The clearness in your post is simply
    great and i could assume you’re an expert on this subject.
    Well with your permission allow me to grab your feed
    to keep up to date with forthcoming post. Thanks a million and
    please continue the enjoyable work.

  19. Valuable information. Lucky me I found your web
    site accidentally, and I’m shocked why this coincidence did not
    happened in advance! I bookmarked it.

  20. It’s remarkable to pay a visit this website and reading the views of all colleagues
    regarding this article, while I am also zealous of getting knowledge.

  21. Link exchange is nothing else however it is only placing the other person’s webpage link on your page at appropriate place and other person will also do same
    in favor of you.

  22. Asking questions are really pleasant thing if you are not understanding anything completely, but this piece of writing presents
    nice understanding yet.

  23. Just what wallpaper mural? This can be expensive, but will not always you need to a large
    expense.

  24. Alva says:

    Thanks , I’ve recently been searching for info approximately this subject for a long time and yours
    is the best I have came upon till now. But, what about the bottom line?
    Are you sure in regards to the supply?

  25. You need another reason to watch it? There are certainly a large amount of jewelries that you could buy
    and give like a reward. Would you still end up solitary after having a
    few days?

  26. Trena says:

    I think this is one of the most significant info for me.
    And i’m glad reading your article. But wanna remark on few general things,
    The site style is wonderful, the articles is
    really great : D. Good job, cheers

  27. What’s up, its fastidious paragraph on the
    topic of media print, we all be aware of media is a
    fantastic source of facts.

  28. fused quartz says:

    It describes the prescription the problem of the distant vision. The light model numbers can be the same shape as two intersecting cones, since
    lustrous power declines off from exponentially moving towards the centre together with the light.
    I found a vendor that supplies me with a very high grade, faceted, hand cut crystal to use instead of
    diamonds and I use a lot of gem quality faceted stones, which gives Gotroxx pieces the refractive quality that
    has become a distinction for my jewelry.

  29. This is a fantastic application if your kids have the
    iTouch and no cell phone. Several casinos in Atlantic Metropolis offer solitary-zero roulette in their higher-restrict locations only.

  30. Many are finding that jailbreaking the iPhone 3G damaged the phone.
    The single point that can boost any program is
    more RAM.

    1. Allie says:

      That int’hgsis just what I’ve been looking for. Thanks!

  31. Antonio says:

    I rarely drop comments, but i did some searching and wound up here Canada and South
    Korea Free Trade Agreement – Who Benefits? | The Delmar Delagram.

    And I actually do have some questions for you if you do not mind.
    Is it only me or does it give the impression like some of the responses look like coming from brain dead people?
    😛 And, if you are writing at other sites, I’d like to keep up with anything
    fresh you have to post. Could you make a list of all of
    all your social pages like your Facebook page, twitter feed, or linkedin profile?

  32. smoky quartz says:

    Feng Shui tea (9): This tea is a combination of traditional oriental herbs designed
    to help reduce the body’s susceptibility to electromagnetic stresses.

    Spring cleaning is such a huge task because you have actually spent
    so much time in the house all winter. These nine factors, as outlined in Table 3, may be arranged to minimize stress.

  33. Cydia says:

    But of course, there are some limits to its capabilities.
    Google really *encourages* changes and it is quite authorized.
    All you require is to adhere to the directions cautiously.
    Make certain you only purchase from safe sites.

  34. imvu credit generator says:

    Wow, that’s what I was exploring for, what a stuff!
    present here at this weblog, thanks admin of this site.

  35. frontline commando 2 hack says:

    Get a hold of Frontline Commando 2 Hack now to rule the game and create your self
    into a star!

  36. Whatsapp gebruikt op een slordige manier het XMPP protocol.

  37. Acheter des pass by means of sa réserve (a partir de 50
    jours d’ancienneté et, après tout les 30 jours).

  38. Pretty! This was an incredibly wonderful article. Many thanks for supplying this
    info.

  39. Greetings from Ohio! I’m bored at work so I decided to check out your blog on my iphone
    during lunch break. I really like the knowledge you present here and can’t wait to take a
    look when I get home. I’m surprised at how fast your blog loaded on my mobile ..

    I’m not even using WIFI, just 3G .. Anyhow, wonderful blog!

  40. Rose Quartz says:

    In addition to this belief about Quartz, “Tibetan monks…have considered the clear Quartz crystal a sacred object of incredible power” (Church 4).

    Quartz is one of the most extensively used gemstones and continues to rule the jewelry market owing to its wide range of applications.

    Whether you are prepared and able to do so is another matter.

  41. Code Argent Gta 5 says:

    Je vous donnerai mes petites peuvent avoir un chien (encore avais
    laiss ton chien seul physique Nom (obligatoire) Adresse de on pouvait conclure comme
    une non plus) et envoyer des ballade prendre lair.

    1. Cheyenne says:

      I’m quite pleased with the inftamroion in this one. TY!

  42. Understanding both advantages and disadvantages are important in order to choose the best internet marketing strategy.
    As the culture of internet slang grew, it took on new origins from pop culture or video games and television. You can download Avast
    Free Antivirus for free from the Avast website.

  43. Lina says:

    Hi there mates, how is everything, and what you wish for to say on the topic of this article,
    in my view its actually amazing in support of me.

  44. Chante says:

    We’re furnishings wholesale and indonesia wooden furniture
    producer of Quality handmade furniture based in Jepara Indonesia.

    The basic resources we utilize are teak wood and mahogany wooden furniture.

    We will continually be willing develop and to offer a quality furniture that is good that
    you want. Furniture-made from wood components and we employ are lawful and good-quality wood.

    You will not be unable to create your modifications regarding to your marketshare.

  45. I don’t know the place we’re going or when we’ll get there.

  46. If you want to get a great deal from this article then you have to apply such strategies to your won website.

  47. Yes, it does contain magic, but it’s magic that’s freely obtainable in the universe.

  48. He needs to have the sweaty, tough sex and so it’s worthwhile to
    give him the green gentle to make that occur.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s