PURPOSE: to conclude the Free Trade Agreement between the European Union and its Member States, of the one part, and the Republic of Korea, of the other part.
NON-LEGISLATIVE ACT: Council Decision (EU) 2015/2169 on the conclusion of the Free Trade Agreement between the European Union and its Member States, of the one part, and the Republic of Korea, of the other part.
CONTENT: the Council approved, on behalf of the European Union, the Free Trade Agreement between the European Union and its Member States, of the one part, and Korea, of the other part.
To recall, on 23 April 2007 the Council authorised the Commission to negotiate a free trade agreement with Korea, on behalf of the European Union and its Member States. Those negotiations have been concluded and a Free Trade Agreement between the European Union and its Member States, of the one part, and Korea, of the other part, was initialled on 15 October 2009.
In accordance with Council Decision 2011/265/EU, the Agreement was signed on behalf of the Union on 6 October 2010, subject to its conclusion at a later date, and applied on a provisional basis.
The agreement aims to provide for the progressive and reciprocal liberalisation of trade in goods and services as well as rules on trade-related issues. The Agreement incorporates three dedicated Protocols concerning: (i) the definition of the origin of the products and on arrangements for cooperation between customs authorities; (ii) administrative assistance on customs matters; (iii) and on cultural cooperation.
The Commission should be authorised to bring about the termination of the entitlement to co-productions as provided for in Article 5 of the Protocol on Cultural Cooperation unless the Commission determines that the entitlement should be continued and this is approved by the Council pursuant to a specific procedure necessitated both by the sensitive nature of this element of the Agreement and by the fact that the Agreement is to be concluded by the Union and its Member States.
In addition, the Commission should be authorised to approve modifications to be adopted by the Working Group on Geographical Indications pursuant to Article 10.25 of the Agreement. Therefore, it is appropriate to set out the relevant procedures for the protection of Geographical Indications which are given protection pursuant to the Agreement.
ENTRY INTO FORCE: 01.10.2015.