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Garlic Negotiations between Korea and China End
A dispute between Korea and China regarding imminent tariff increases attached to Chinese garlic has been settled.
The Ministry of Foreign Affairs and Trade of ROK stated, "The two nations have reached an agreement. In exchange for China's suspension of import bans on Korean polyethylene and cellular phones, Korea agrees to guarantee imports of Chinese frozen garlic. The two sides signed the provisional agreement on July 15."
The agreement enables China to export up to 11,895 tons of garlic without any restrictions to Korea, as previously negotiated during the Uruguay Round. In addition, through the agreement China will be able to export 20,000 tons of frozen garlic with a tariff of 30 percent to Korea.Consequently, China will be able to export almost 32,000 tons of garlic to Korea each year without the burden of a 315 percent tariff.
The two nations plan to sign a formal agreement in the near future.
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