DAILY NEWS Mar 13, 2014 2:04 PM - 0 comments

Canada-Korea Free Trade Agreement to enhance private sector competitiveness: UPS Canada

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2014-03-13

BURLINGTON, Ont.--Mike Tierney, President of UPS Canada, said tat UPS Canada welcomes the proposed Free Trade Agreement (FTA) between Canada and South Korea; "a significant milestone for both countries."

"While Canada and South Korea work to finalize the deal, UPS fully endorses the agreement in principle, as it will generate new growth and export opportunities for small, medium and large enterprises. These enterprises will have enhanced access to the 13th largest economy globally, which coupled with the recently signed Canada Europe Trade Agreement (CETA), creates exceptional momentum to drive export volumes over the long-term," Tierney said.

As one of the largest global logistics companies focused on facilitating international trade, UPS said it looks forward to studying the specific details of the agreement in the weeks ahead so as to counsel customers on how best to strategically capitalize on the deal.

"As an advocate of bilateral and multilateral free trade, we are confident this agreement signed by Prime Minister Harper and President Park will deliver promising new channels of trade for both countries," said Tierney. 

UPS is particularly pleased to see that the deal provides clear and simple rules of origin, as well as transparent and effective origin procedures to administer the rules without creating unnecessary barriers to trade. In addition, the Canada/South Korean FTA includes advance rulings on origin and tariff classifications, promotion of automated border procedures and impartial and transparent system for addressing complaints about customs issues.

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