Free Trade Agreement between EFTA & South Korea
European Free Trade Agreement (EFTA) was established in 1960 by United Kingdom (UK). Current members include Norway, Switzerland, Liechtenstein and Iceland.
Additional free trade agreement between EFTA and South Korea has been updated and will be amended from 1st January, 2017. There is an inclusion of two points which can be beneficial for exporters.
First, the time duration for verification of origin declarations has increased by 5 months to a total of 15 months.
Second, the related declaration of origin should be saved and verified up to 5 years.