Korea Central American Free Trade Agreement

South Korea`s free trade pact with Honduras and Nicaragua will enter into force on Tuesday, the first step in the comprehensive free trade agreement that includes five Central American countries, including Costa Rica, El Salvador and Panama, according to the Ministry of Commerce, Industry and Energy. North Korea`s trade with China, its only trade… Korea has a free trade agreement with five Central American countries and reduces tariffs to more than 95% of goods. Costa Rica, El Salvador, Honduras, Nicaragua and Panama signed the Korea-Korea Free Trade Agreement on February 21, 2018 in Seoul, Korea. In addition, on the same day, Costa Rica and Korea signed a Memorandum of Understanding to promote trade, investment and cooperation. On March 5, 2019, Costa Rica approved the free trade agreement between the Central American republics and the Republic of Korea. It should be noted in particular that the free trade agreement between Central America and South Korea has established the basic rules that ensure that the sound exercise of state regulatory powers does not entail unnecessary trade barriers; Promote fair marketing to facilitate the exchange of goods and services; to promote business and consumer access to electronic withdrawal mechanisms; and promote trade based on respect for workers` rights and the maintenance and preservation of the environment. It is also useful, as concerns about trade protectionism intensify after the inauguration of the US administration. Since Korea has free trade agreements with South American countries, Chile, Peru and Colombia, the pact with Central America will contribute to the establishment of a network of free trade agreements linking North and South America. International investment agreements (AI) are divided into two types: (1) bilateral investment agreements and (2) investment contracts. A bilateral investment agreement (ILO) is an agreement between two countries to promote and protect investments made by investors from the countries concerned in the territory of the other country. The vast majority of IDu are bits.

The category of contracts with investment rules (TIPs) includes different types of investment contracts that are not BITs. There are three main types of TIPs: 1) global economic contracts that contain commitments that are often included in ILOs (. B, for example, a free trade agreement with an investment chapter); 2. contracts with limited investment provisions (for example. B, investment creation or free transfer of investment-related funds; and 3) contracts that contain only „framework clauses,“ such as. B on investment cooperation and/or a mandate for future investment negotiations. In addition to IDAMIT, there is also an open category of investment-related instruments (IRIs). It includes various binding and non-binding instruments, such as model agreements and draft instruments, multilateral conventions on dispute settlement and arbitration rules, documents adopted by international organisations and others.

IIA Navigator This IIAs database – the IIA Navigator – is managed by the IIA section of UNCTAD. You can browse THE IIAs that are completed by a given country or group of countries, view the recently concluded IIAs, or use advanced research for sophisticated research tailored to your needs.



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