EU and Korea sign Framework Agreement
The European Union and the Republic of Korea signed the first Framework Agreement for cooperation on 28 October 1996, at a meeting of the General Affairs Council in Luxembourg. The Agreement covers arrangements for both political dialogue and economic cooperation. In addition, it covers a number of trade-related matters including intellectual property rights, shipbuilding, norms and standards and maritime transport. The aim of the Agreement is to support a fuller partnership between the EU and Korea. In 1995, Korea was the EU's tenth largest export market, and the two parties already cooperate in a number of arenas, including the Asia-Europe Summits, the World Trade Organization and the Korean Peninsula Energy Development Organization (KEDO). Korea also recently joined the Organization for Economic Cooperation and Development (OECD). The Agreement includes economic cooperation in areas such as cooperation between businesses, enhancing the use of international standards and conformity assessment systems, science and technology, environment and energy.
Kraje
South Korea