South Korea to lift tariffs on imports from Indonesia under agreed trade deal

In December last year, South Korea and Indonesia inked the comprehensive economic partnership agreement (CEPA), which is equivalent to a free trade deal but centers on a broader scope of economic cooperation. - Bernama

SEOUL, July 20 (Bernama): South Korea will gradually lift or lower tariffs on more than 95 per cent of its imported products from Indonesia and Israel as it has clinched trade deals with the two nations, Yonhap news agency reported the finance ministry said Tuesday.

It said the Cabinet approved a revised enforcement ordinance in preparation for implementing trade deals with Indonesia and Israel.