[FTA HONG] Summary of the Korea-India CEPA (FTA(CEPA) utilization rate, FTA(CEPA) utilization by industry, and summary of highlights)
The Korea-India CEPA agreement, the first free trade agreement signed by a single country with a large economy, came into effect on January 1, 2010. The term Comprehensive Economic Partnership Agreement (CEPA), rather than Free Trade Agreement (FTA), is used to emphasize that the agreement covers all aspects of economic relations, including trade in services, investment, and economic cooperation, not just trade in goods. CEPA is an agreement that covers all aspects of economic relations, including trade in goods, trade in services, investment, and economic cooperation. In essence, it is the same as an FTA, but compared to an FTA, which is mainly centered on the free trade of goods and services, CEPA is a broader concept. As of 2022, the export utilization rate of the Korea-India CEPA is 79.5% and the import utilization rate is 55.2%. In terms of exports, steel and metal products have the highest level of utilization at 82.9% and miscellaneous products have t...