Canada South Korea Free Trade Agreement Certificate Of Origin

Conestoga Meat Packers, through a cooperative of 150 farmers in southern Ontario, has been supplying the Canadian market with high-quality fresh pork for over 30 years. However, the company`s efforts to expand its operations have been hampered by the lack of a free trade agreement between Canada and South Korea, with the Asian country being one of its main markets, coveted by all major meat exporting nations. South Korea has an import demand that exceeds $2 billion a year for cattle and pork products. The signing of the free trade agreement removes the current tariffs of 22.5% for fresh/chilled pork and 25% for frozen pork, allowing Conestoga to return to an equal footing with its competitors. The agreement will also strengthen opportunities and protection for mutual investments and increase the prospects for joint ventures between Canadian and South Korean companies by reducing trade barriers and facilitating the free movement of businessmen between the two countries. Two-way investment plays a crucial role in creating jobs, promoting creativity and technology, and connecting Canada to global and regional value chains in Asia. Box 10: indicate the name of the country of origin («CA») for all originating products exported to Korea; «KR» for all originating goods exported to Canada). «The Canadian mining industry welcomes the new free trade agreement with South Korea, which is a key market for Canada`s mineral and metal exports.