Asean-Korea Comprehensive Economic Cooperation Agreement

Details of economic cooperation projects are included in the annex to the agreement. The ASEAN-Korea Free Trade Agreement (AKFTA) came into force on 1 January 2010. With the implementation of the free trade agreement, ASEAN and ROK plan to strengthen and deepen economic integration and contribute to capacity building by exchanging available resources and skills. The creation of the free trade agreement is also expected to allow for a greater flow of investment into ASEAN. The parties acknowledge that cooperation in the mining sector will contribute to economic development and state that Article 3 of the ASEAN-Korea Framework Agreement on Comprehensive Economic Cooperation („the agreement“) encourages ASEAN and Korea to develop and implement economic cooperation projects to support the implementation of AACA in the area of customs procedures; Promoting trade and investment Small and medium-sized enterprises Human resources management and development; Tourism Science and technology Financial services Information and communication technologies Agriculture, fishing, livestock, plantation raw materials and forestry; Intellectual property The environmental industry Broadcasting; Construction techniques; Standards and compliance assessment, as well as health and plant health measures; Mining Energy Natural resources Shipbuilding and shipping; and the movie. The parties recognize that sustainable economic growth and prosperity depend largely on the knowledge and capacity of the population and: the parties recognize that, given the rapid pace of economic development, energy needs in their territory will increase in the future: promoting and promoting investment flows and cooperation between ASEAN and Korea; At the 2014 ASEAN-ROK Memorial Summit, heads of state and government agreed to aim for $200 billion in two-part exchanges by 2020, including maximizing the use of AKFTA to improve economic ties between ASEAN and the ROK. The contracting parties establish, in accordance with the provisions of Article XXIV of the GATT 1994 and Article V of the GATS: a free trade agreement between ASEAN and Korea and the strengthening and improvement of economic cooperation through: The parties recognize that customs cooperation is an important means of facilitating international trade, subject to their own national laws and in accordance with their own policies and procedures and procedures. : the ASEAN-Korea Free Trade Agreement is defined by this framework agreement and other relevant agreements in accordance with Article 1.4, paragraph 1, of the ASEAN-Korea Free Trade Agreement; The WTO agreement refers to the Marrakesh Agreement establishing the World Trade Organization concluded on 15 April 1994 and the other agreements negotiated there. promoting cooperation on a mutually beneficial basis; The establishment of an ASEAN-ROK free trade area; ASEAN and the Republic of Korea (ROK) began sectoral dialogue in November 1989. At the 24th ASEAN Ministerial Meeting (MSA) held in Kuala Lumpur in July 1991, the ROK was given the status of a comprehensive ASEAN dialogue partner.

The ASEAN-ROK partnership was raised at the summit in Kuala Lumpur in 1997 and since then relations between ASEAN and ROK have expanded and deepened. . At the 8th ASEAN-Korea Summit on 30 November 2004, the Heads of State and Government signed the ASEAN-ROK Joint Declaration on a Comprehensive Cooperation Partnership Agreement. In the joint declaration, the Heads of State and Government approved: RVC – value of raw materials, value of raw materials, direct labour costs, direct overheads, direct transport costs, transport costs and VNM profits – Value of non-original materials which are, either under this agreement, protective elements for investors : the earliest price for materials, parts or products of indeterminate origin in the territory of the contracting party where the treatment or processing took place.

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