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situation report

Oct 15, 2009 | 13:09 GMT

1 min read

South Korea, EU: Multibillion-Euro Trade Deal Struck

A deal worth up to 19 billion euro ($28 billion) for European exporters has been made between the European Union and South Korea, removing most trade tariffs between the two, the BBC reported Oct. 15, citing EU Trade Commissioner Catherine Ashton. The deal, with a focus on services, manufacturing and agriculture, will come into effect in the second half of 2010 after ratification by the European Parliament.

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