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European auto industry calls to address non-tariff barriers in EU-Korea trade

Xinhua, April 2, 2015 Adjust font size:

The European Automobile Manufacturers' Association (ACEA) on Thursday called on the European Union (EU) to address non-tariff barriers while the EU-Korea free trade agreement (FTA) is in its fourth year.

Commenting on the implementation of the EU-Korea FTA, ACEA said they were encouraged by the increase in EU exports of motor vehicles to Korea.

At the same time, ACEA emphasized the EU-Korea trade balance, in terms of volume, remains strongly favorable to the Asian partner, which experienced a 175,000 unit trade surplus in 2014.

ACEA noted that the automotive sector tackling the remaining non-tariff barriers remained a challenge.

"ACEA is still hopeful that mutually-beneficial solutions can be found in the long run. We remain ready to continue dialogue with the European Commission in order to achieve the most effective application of the agreement and the facilitation of automotive trade," ACEA Secretary General Erik Jonnaert said.

"ACEA hopes that the commission will take into account the lessons learned in the implementation of this FTA in ongoing and future trade negotiations," added Jonnaert. Endit