Implementation of the Canada-Korea Free Trade Agreement (CKFTA)

Dec 09, 2014

The Canada–Korea Free Trade Agreement (CKFTA) will be implemented on January 1, 2015. With the exception of a few agricultural goods, the CKFTA will essentially eliminate the customs duties on all imports from Korea, either immediately upon implementation of the agreement, or through a tariff phase-out.

1. Information regarding the CKFTA and the text of the agreement can be found on the Foreign Affairs, Trade and Development Canada Web site. https://international.gc.ca/trade-commerce/trade-agreements-accords-commerciaux/agr-acc/korea-coree/index.aspx?lang=eng

2. The CKFTA comes into force on January 1, 2015.

Tariff Provisions
3. Pursuant to the CKFTA, a new preferential tariff treatment is being introduced, namely the Korea Tariff. The newly assigned tariff treatment code is: Korea Tariff (KRT) – Code 30.

Proof of Origin
4. The required proof of origin is the Canada–Korea Certificate of Origin, available in English, French and Korean. In order to claim the preferential tariff treatment accorded under the CKFTA, importers must have in their possession the Canada–Korea Certificate of Origin completed by the exporter in Korea.
5. The Canada–Korea Certificate of Origin and the instructions for completing it will be made available prior to January 1, 2015, in English, French and Korean.

Shipping Requirements
6. Goods may be shipped from Korea, with or without transshipment, to Canada.

7. The transshipment conditions are contained in Article 3.16 of Chapter Three of the CKFTA.

Refunds
8. An application for a refund under paragraph 74(1)(c.11) of the Customs Act may be made within four years from the date the goods were accounted for under subsections 32(1), (3), or (5), in respect of goods that were imported on or after January 1, 2015.


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