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The South Korean parliament will consider the issue of ratification of the free trade agreement with Canada

The South Korean government has submitted to Parliament a bill ratifying a bilateral free trade agreement with Canada. This is the agency RUSKOR with reference to the Ministry of Commerce, Industry and Energy of the country.

The Free Trade Agreement was signed on September 22 during the visit to Canada of President Pak Geun-hye. The talks lasted from July 2005.

The Ministry of Commerce expects that the automotive industry will win the most from the agreement, which will come into force in 30 days after ratification by the two countries. In 2013, South Korean automakers exported to Canada about 130 000 cars. As expected, the free trade agreement with Canada will ensure the growth of South Korea's gross domestic product by 0,04% per cent in the next ten years.

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