South Korea, ASEAN agree to quicken customs procedure for FTA



Yonhap News Agency

SEOUL, Dec. 6 (Yonhap) — South Korea and the Association of Southeast Asian Nations (ASEAN) have agreed to address sticky issues in customs procedures for better implementation of their free trade agreement (FTA), the finance ministry said Monday.

Under the agreement, South Korean firms will be able to receive tariff benefits if they submit a copy of certificates of origin when they export goods to the 10 member states of ASEAN, according to the Ministry of Economy and Finance.

Korean exporters have had difficulties as the COVID-19 pandemic has delayed international shipments of certificates of origin.

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