This afternoon, Executive Vice-President and Trade Commissioner, Valdis Dombrovskis, will meet the Republic of Korea Minister for Trade Yoo Myung-hee for a high-level meeting to take stock of progress made since a landmark trade agreement was signed a decade ago.
The EU-Republic of Korea Trade Agreement remains a bedrock of our bilateral economic relationship and a strong foundation to help our economies recover and grow from the COVID-19 pandemic. This agreement not only boosts trade but also promotes social and environmental values. At today’s 9th meeting of the Trade Committee, the two parties will agree on the next steps regarding Republic of Korea’s compliance with the recommendations of the panel of experts on the labour dispute initiated by the EU under the Trade and Sustainable Development Chapter.
Moreover, the two sides will confirm the extension of the list of Geographical Indications (GIs), with products such as Irish Cream, Kalamata olive oil, and Pecorino Toscano to be protected under the agreement. Finally, a number of amendments to the automotive annex of the agreement will be adopted. These amendments reflect the technological and regulatory developments in the automotive sector and are another example of the continuous constructive work between the two sides. You can find more information on the agreement here.