[FTA HONG] Summary of the Korea-Canada FTA (FTA utilization rate, FTA utilization by industry, and summary of highlights)
The Korea-Canada Free Trade Agreement, the first of its kind in Asia with Canada, a resource-rich country with oil and natural gas, came into effect on January 1, 2015. As of 2022, the export utilization rate of the Korea-Canada FTA is 94.6% and the import utilization rate is 62.0%. In terms of FTA utilization by industry, machinery is the highest at 99.4% and textiles is the lowest at 19.4%. In the import sector, steel and metal products have the highest utilization rate of 97.3% and minerals have the lowest utilization rate of 13.4%. (Unit: Thousands of dollars) Category FTA total amount FTA preference eligible exports and imports Apply actual FTA preferential tariffs utilization rate(%) amount amount Export Korea-Canada FTA 7,839,520 4,288,847 4,057,205 94.6 Import 8,536,991 2,811,410 1,742,860 62.0 A brief summary of the provisions of the Korea-Canada FTA related to trade in goods is as follows. However, it is intended as a guide on...