FTA between EU and South Korea enacted on July 1, 2011
No import duties on KEPITAL after Free Trade Agreement between the EU and South Korea became effective

Dear valued customer,

as you know beginning July 1, 2011 the EU-South Korea Free Trade Agreement (FTA)1  has provisionally entered into force2.
 The FTA affects also Kepital (POM) meaning that there will be no duty immediately effective3.

As to our current knowledge, the following prerequisites must be fulfilled:
•    goods go through customs declaration July 1st or later
•    the exporter is officially authorized
•    there must be a valid certificate of origin4; which the exporter has to self-certify with the following sentence on any document5:
The exporter of the products covered by this document (customs authorization No … ( 1 )) declares that, except where otherwise clearly indicated, these products are of … ( 2 ) preferential origin.

We do support our customers with the following measures:

As of June 1st we amended our processes and shipping documents:
•    KEP is an authorized exporter, authorization number is "110-10-200009"
•    we provide a certificate of origin by adding the below on our commercial invoice:
“The exporter of the products covered by this document (customs authorization No 110-10-200009) declares that, except where otherwise clearly indicated, these products are of KR preferential origin."
•    the commercial invoice contains the sentence “Made in Korea”
 
Based on new information and requests of local customs authorities we also amended all commercial invoices issued after May 14th by adding the sentence:
“The exporter of the products covered by this document (customs authorization No 110-10-200009) declares that, except where otherwise clearly indicated, these products are of KR preferential origin."
The amended commercial invoices will be sent to you by mail.

In any case we strongly recommend that you contact your local customs authority for clarification. We are also at your disposal to support you and to provide you with additional documentation in case something is missing.

We hope that by those measures we can support you as good as possible to benefit from this trade agreement.

Yours sincerely,

KEP Europe Team

 

Indices:

(1) FTA Agreement  http://trade.ec.europa.eu/doclib/press/index.cfm?id=443&serie=273&langId=en
(2) Council Decision  http://eur-lex.europa.eu/JOHtml.do?uri=OJ:L:2011:127:SOM:EN:HTML and provisionally applied http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2011:168:0001:0001:EN:PDF
(3) Overview of customs tariffs: http://trade.ec.europa.eu/doclib/press/index.cfm?id=443&serie=273&langId=en on page 116 you’ll find the current (6,5%) and the future (0%) tariff for POM
(4) The definition of ‘originating products’ and methods of administrative cooperation
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2011:127:1344:1414:EN:PDF
(5) Common provisions Annex II (a) http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2011:127:1344:1414:EN:PDF

 


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