South Korea: The Harper government's free-trade deal with South Korea opens a door for Canadian business to tap into the dynamism of one of the fast-growing Asian-tiger economies. It also creates a need for Canada to take a continuing interest in the complex politics of South Korea and its north Asian neighbours. , according to Winnipeg Free Press. Mr. Harper airily dismissed the warnings of Ford of Canada chief executive Dianne Craig. In her company's experience, South Korea is a fiercely protected market. If they can't levy import duties, they find non-tariff barriers related to paint colour or radio frequency of remote door-locking devices. They now say they will let Canadian-made cars into the country. Ms. Craig will believe it when she sees it. The deal calls for elimination of import tariffs on most products moving either way -- South Korean import duties averaging 13.3 per cent and Canadian import duties averaging 4.3 per cent. A country of 50 million people with little land and few natural resources, South Korea has a huge appetite for oil, coal, iron ore and forest products to feed the steel mills, shipyards and automotive plants that made it a global economic powerhouse.
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Tagged under Ford of Canada, Canadian import duties topics.
20.3.14