El Salvador signs FTA with South Korea

By Portal & Asociados

El Salvador signs FTA with South Korea
El Salvador signed a Free Trade Agreement (FTA) with South Korea that will decrease import costs due to the reduction of tariff rates for many Salvadoran products. The commercial agreement was signed on February 21 in South Korea´s capital city Seoul, by Tharsis Salomón López, Minister of Economy of El Salvador, and Kim Hyun-chong, Trade Minister of South Korea.

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.
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In El Salvador, Practice Head Edy Guadalupe Portal is a partner at Eproint and has more than 25 years of experience in Intellectual Property. Since 1995, she has been recognized as the Salvadoran voice of Intellectual Property protection for always informing the IP community about changes to IP law and international treaties.

During her career, Mrs. Portal has helped numerous international law firms and in-house counsel with all facets of their IP matters in El Salvador and Central America. Her extensive practice includes work in trademarks, patents, industrial designs, utility models, copyrights, unfair competition, foreign investment, regulatory law/health registrations, licensing, franchising, appellations of origin, geographical indications, IP litigation, fashion law, new technologies, data privacy, cybersecurity, domain names, entertainment law, advertisement law, trade secrets, valuation of intangibles, and IP due diligence. She is also recognized for the great anti-piracy and anti-counterfeiting results she has delivered for her clients. She also helps coordinate Latin America Intellectual Property Protection for the firm.

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