GRTU welcomes the European Parliament's assent to the comprehensive free trade agreement between the EU and South Korea. This is a great day for European retailers and wholesalers.
In the current economic environment, the EU-Korea deal is exactly the right sign against protectionism. Open markets sustain growth and prosperity.
The agreement significantly improves the conditions for European traders on the Korean market. The abolition of size restrictions will allow retailers to freely choose the format of their stores in Korea. Unlike today, they will also be allowed to offer an almost complete range of goods to Korean consumers. This will not only enhance their competitiveness on the highly challenging Asian market, but also act as a catalyst for European exports.
Korea counts among the biggest trading partners of the European Union. The trade deal brings European companies access to 50 million consumers and is the most ambitious trade agreement the EU has ever negotiated.