El Salvador signs FTA with South Korea
By Portal & Asociados

For El Salvador the FTA will benefit its exportable supply and companies competitiveness by decreasing import costs due to the reduction of tariff rates: among other measures, the agreement establishes free tariffs access for raw sugar, coffee and medicines. For South Korea, the signing of FTAs with El Salvador and other four Central American nations will boost market access for its automotive and electronics sectors.
"For the first time, a commercial agreement is reached with unlimited quota access for raw sugar, and immediate access without tariffs for coffee and medicines", the Ministry of Economy of El Salvador highlighted in a statement. "The South Korea-Central America free trade deals will enable the countries to build a more comprehensive, strategic partnerships going forward," said in another statement South Korea´s Minister Kim.