Canada-Korea Free Trade Agreement (CKFTA)
The Canada-Korea Free Trade Agreement (CKFTA), Canada’s first free trade agreement in the Asia-Pacific region, entered into force on January 1, 2015. This agreement provides Canadian exporters with preferential access to the world’s 15th-largest economy and the fourth-largest in Asia, with an annual GDP of nearly $1.8 trillion and a population of more than 50 million. Since the agreement entered into force, roughly 90% of Canada’s exports entered Korea duty free, and upon full implementation in 2032, virtually all bilateral trade will be duty-free. The CKFTA has benefitted the Canada-Korea bilateral trade relationship by providing a comprehensive and modern foundation for our trade and investment relationship. South Korea is not only a major economic player in its own right and a key market for Canada: it also serves as a gateway for Canadian businesses and workers to the dynamic Asia-Pacific region as a whole. As a result, Canadian companies will be able to take better advantage of South Korea as a strategic base for expanding their presence in all of Asia and across its supply chains.
Find out how CKFTA will benefit provinces, territories, and small and medium-sized enterprises.
Learn more about the full scope of the Agreement and what’s in it for you.
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