South Korea Gives Preferential Tariffs To Clothing And Agricultural Products Produced By Poor Countries.

Starting next year, South Korea will give 253 products such as clothing and agricultural products produced by the poorest countries in the world.

The ROK government convened a meeting of foreign economic ministers 25 days ago, and agreed to import from the poorest countries in the world.

The above-mentioned "poorest country" is the United Nations designated 48 countries in Kampuchea, Nepal, Ethiopia and other countries according to the level of income.

There are 12 kinds of industrial products that can enjoy preferential tariff treatment, including T-shirts, trousers and children's clothing.

There are 241 kinds of agricultural and aquatic products, including orange juice, wine, whisky, coconut and so on.

The South Korean government plans to reduce the added value standard of the rules of origins from 50% to 40%, allowing the poorest countries to enjoy more preferential tariffs.

The proportion of the poorest countries in Korea's total imports increased from 0.6% in 2007 to 0.8% in the first half of this year.