Canada Wood Today | The Canada Wood Group

CK-FTA brings new tariff elimination for Canadian exports to Korea

Min Hong

By Min Hong

Office Manager & Accounting, Canada Wood Korea

July 21, 2017

The Canada-Korea Free Trade Agreement (CKFTA) took effect on January 1st, 2015 and 85% of Canada’s exports benefited from duty free market access to Korea. Starting on January 1, 2017, 93% of Canada’s exports are eligible for duty-free access into Korea. For forest products, 98% of Canadian forestry exports will benefit from duty-free access to Korea. Notably, elimination of lumber tariff of 5% will benefit for both Canada and Korea.