Croatia will be included in the free trade agreement between Korea and the European Union, according to government sources on Wednesday.
This is following the passage of a protocol adding the country to the Korea-EU FTA at the National Assembly, the Trade Ministry said.
The revised pact is expected to officially come into effect later this year, when the Korean government notifies Croatia and the European Union of the ratification to receive final approval.
On July 1 of 2011, the Korea-EU pact became tentatively effective.
In July 2013, Croatia became the 27th member of the EU.
Croatia was the 134th-largest export market for Korea in 2013, taking in $46 million in Korean exports last year, mostly agricultural and medical products, plastics and automobiles.
Croatia’s exports to Korea totaled $17 million in the same year, with paper and radio communications devices key products.
(
baejisook@heraldcorp.com)
