Canada-Korea Free Trade Agreement (CKFTA)

The CKFTA entered into force on January 1, 2015. This landmark agreement constitutes Canada’s first free trade agreement in the Asia-Pacific region and provides new access for Canadian businesses and workers to the world’s 15th-largest economy and the fourth-largest in Asia. In fact, the Canada-Korea Free Trade Agreement is projected to create thousands of jobs for hardworking Canadians by boosting Canada’s economy by $1.7 billion and increase Canadian exports to South Korea by 32 percent. 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 into the dynamic Asia-Pacific region as a whole.

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Understanding CKFTA

Related Documents

Learn more about the full scope of the Agreement and what’s in it for you.

Benefits

Find out how CKFTA will benefit provinces, territories, and small and medium-sized enterprises.

Did You Know?

The Canada-Korea Free Trade Agreement is projected to boost Canada's economy by $1.7 billion.

The Canada-Korea Free Trade Agreement is Canada's first in the Asia-Pacific region.

The Canada-Korea Free Trade Agreement is projected to increase Canadian exports to South Korea by 32%.

Canadian businesses will immediately benefit from duty free access on 81.9% of South Korean tariff lines.

The Canada-Korea Free Trade Agreement will level the playing field for Canadian businesses wanting to expand opportunities in South Korea.

South Korea is the world's 15th-largest economy and the fourth-largest in Asia with an economy of $1.3 trillion and a population of 50 million.

News

Infographics

  • On January 1st, 2015 Canada’s longstanding friendship with South Korea reached new heights with the coming into force of the Canada Korea Free Trade Agreement.
  • Canada-Korea Free Trade Agreement: Canadian lumber tariffs reduced or eliminated. The new agreement benefits Canadian producers of spruce, pine, fir, western hemlock lumber, particle board, ply wood, oriented strand board, wood beams and arches
  • Canada-Korea Free Trade Agreement: Before CKFTA – Beef tariffs from 40% to 70%, Pork tariffs up to 70%. After CKFTA – 0%
  • Canada-Korea Free Trade Agreement: Canadian beer, wine and spirits tariffs reduced or eliminated. The new agreement benefits Canadian producers of ice win, distilled spirits and beer
  • February 8-13 Minister Fast leads a trade mission to South Korea: On January 1st, 2015 Canada’s longstanding friendship with South Korea reached new heights with the coming into force of the Canada Korea Free Trade Agreement
  • Minister Fast Leads a Trade Mission to South Korea – The Canada-South Korea Free Trade Agreement is now in force! Canada’s first free trade agreement with an Asian country; Nearly 90 percent of Canada’s exports to Korea are no duty free! The CKFTA agreement provides Canadian businesses with a gateway to Asia; Aerospace – 100% of products now duty free; Forestry products – 58% of tariffs now eliminated – 100%in 10 years; Agriculture and agri-food products – 97% of export tariffs will be fully eliminated; Fish and Seafood – 70% duty-free in 5 years – 100% within 12 years
  • The Canada-South Korea Free Trade Agreement is now in force! – Canada’s first trade agreement in the Asia Pacific region; Nearly 90 percent of Canada’s current exports to Korea are now duty free!; This historic trade agreement provides Canadian businesses with a gateway to Asia; Aerospace: 100% of products now duty free; Forestry products: 58% of tariffs now eliminated – 100% in 10 years; Agriculture and agri-food products: 97% of export tariffs will be fully eliminated; Fish and seafood: 70% duty-free in 5 years – 100% within 12 years