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The Department of Foreign Affairs and Trade (DFAT) announced that on 8 April 2014 in Seoul, the Australian Minister for Trade and Investment Robb and South Korean Minister for Trade, Industry and Energy Yoon Sang-jick, signed the Korea-Australia Free Trade Agreement (KAFTA). Negotiations had been concluded in early December 2013. The legally verified text of the agreement was initialled by Chief Negotiators on 10 February 2014 and released to the public on 17 February 2014.
While many Australian resources and energy products already enter Korea duty free, Korea applies tariffs of up to 8 per cent on a range of resources, and tariffs of up to 13 per cent on manufactured products. The full text of KAFTA is available on DFAT’s KAFTA website. A guide to the KAFTA and its implementation, sectoral guides, and chapter summaries are also available on this website |
