[Korea] Trade Ministry | Egypt

[Jay]

To: Ministry of Trade < Thomas R. Jones >

From: KimDaejeong@mtie.kr.gov < Ministry of Trade Investment & Energy >

Subject: [Trade] [Egypt] Trade Agreement

Security: Private and encrypted Protected by the NIS and MoFA DPB

To Whom it May Concern,

I hope this email finds you well and in good health. The Republic of Korea hopes that an arrangement can be made to expand trade relations between Korea and Egypt. As a pillar of our foreign engagement strategy, the Republic of Korea seeks to advance bilateral diplomacy through trade and commerce. We would like to propose a possible trade agreement of mutual benefit between our two countries. The Republic of Korea looks forward to cooperation with the Arab Republic of Egypt Arabia to advance both our economies and expand our market access. Trading vessels represent one aspect of trade, and lowering the barriers to international commerce, making the flow of capital easier and secure, and lifting the restrictions for foreign direct investment and joint-ventures are equally crucial. We hope that this economic expansion program is one that will be mutually beneficial to Korea, Egypt , the wider Asia & Middle East, and the globe.

We would offer to formulate a comprehensive trade agreement including specific provisions of tariff-free imports on select goods. The Republic of Korea continues to advocate for mutually applied tariff rates and their eventual reduction over time as an adequate measure to address concerns of specific trading partners. As such, we hope to extend this courtesy to the Arab Republic of Egypt in respective categories as outlined by our Governments. It is our desire to begin exporting of Semiconductors, Automobile and Parts, Electronics to Egypt as part of our comprehensive trade agreement and would be eager to inquire on the specific exports Egypt seeks to add to our trade agreement. we hope for mutually beneficial terms and options and look forward to your response.


Signed with sincerity,
Minister of Trade, Investment, and Energy
Kim Dae-jeong
Republic of Korea

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Republic of Korea
Ministry of Foreign Affairs
All information is protected from release by the Diplomatic Communications Security Act 1997
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[Thomas R. Jones]

​

From: Trade Minister Dr. Mustafa El-Rifa

To: Trade Investment & Energy Minister Kim Daejeong [ Jay ]

Minister, I have read your email and am delighted to say that we will accept your proposal. Egypt can offer many products, but I would like to suggest petroleum and metals, both strong industries in Egypt. This deal will therefore benefit both our economies. Of Course, this is entirely up to you, and I will leave our five largest exports for you to choose from, along with their respective tariffs, which we will be happy to lower or remove for the purposes of this trade agreement. We look forward to future bilateral relations between Egypt and Korea. 1. Electrical equipment 2. Paper 3. Chemicals 4. Metals 5. Transport equipment $2,500,000.00​ $500,000.00​ $1,000,000.00​ $2,000,000.00​ $3,500,000.00​ Kind regards, Dr. Mustafa El-Rifa Minister of Trade and Industry

​

 

[Jay]

KOREA EGYPT
TRADE AGREEMENT
​

RECOGNIZING the need for trade relations as a means of developing longstanding and strong partnership based on common principles and values of an open market and fair trade;
DESIRING to further develop close economic relationship as part of and in a manner coherent with their overall relations, and convinced that this Agreement will create a new climate for the development of trade and investment between the Parties;
CONVINCED that this Agreement will create an expanded and secure market for goods and services and a stable and predictable environment for investment, thus enhancing the competitiveness of their firms in global markets;
REAFFIRMING their commitment to the principles of Asian cooperation and development;
REAFFIRMING their commitment to sustainable development and convinced of the contribution of international trade to sustainable development in its economic, social and environmental dimensions, including economic development, poverty reduction, full and productive employment and decent work for all as well as the protection and preservation of the environment and natural resources;
RECOGNIZING the right of the Parties to take measures necessary to achieve legitimate public policy objectives on the basis of the level of protection that they deem appropriate, provided that such measures do not constitute a means of unjustifiable discrimination or a disguised restriction on international trade, as reflected in this Agreement;
RESOLVED to promote transparency as regards all relevant interested parties, including the private sector and civil society organisations;
DESIRING to raise living standards, promote economic growth and stability, create new employment opportunities and improve the general welfare by liberalising and expanding mutual trade and investment;
SEEKING to establish clear and mutually advantageous rules governing their trade and investment and to reduce or eliminate the barriers to mutual trade and investment;
RESOLVED to contribute to the harmonious development and expansion of world trade by removing obstacles to trade through this Agreement and to avoid creating new barriers to trade or investment between their territories that could reduce the benefits of this Agreement;
DESIRING to strengthen the development and enforcement of labor and environmental laws and policies, promote basic workers’ rights and sustainable development and implement this Agreement in a manner consistent with these objectives; and



HAVE AGREED AS FOLLOWS:
CHAPTER ONE
OBJECTIVES AND GENERAL DEFINITIONS
Article 1.1
Objectives
1. The Parties hereby establish a free trade area on goods, services, establishment and associated rules in accordance with this Agreement.
2. The objectives of this Agreement Are:

• (a) to liberalize and facilitate trade in goods between the Parties, in conformity with general practices of fair trade;
• (b) to liberalize trade in services and investment between the Parties;
• (c) to promote competition in their economies, particularly as it relates to economic relations between the Parties;
• (d) to adequately and effectively protect intellectual property rights;
• (e) to contribute, by removing barriers to trade and by developing an environment conducive to increased investment flows, to the harmonious development and expansion of world trade;
• (f) to commit, in the recognition that sustainable development is an overarching objective, to the development of international trade in such a way as to contribute to the objective of sustainable development and strive to ensure that this objective is integrated and reflected at every level of the Parties’ trade relationship; and
• (g) to promote foreign direct investment without lowering or reducing environmental, labor or occupational health and safety standards in the application and enforcement of environmental and labor laws of the Parties.
• 
  Article 1.2
  General definitions

Throughout this Agreement, references to:
The Parties mean, on the one hand, the Republic of Korea (hereinafter referred to as Korea), and on the other hand, Egypt;
The Agreement means the Trade Agreement for Trade and Cooperation between the Republic of Korea and the Arab Republic of Egypt.
CHAPTER TWO
NATIONAL TREATMENT AND MARKET ACCESS FOR GOODS
SECTION A
Common provisions
Article 2.1
Objective
The Parties shall progressively and reciprocally lower barriers in trade over specified goods over a transitional period starting from the entry into force of this Agreement, in accordance with this Agreement
Article 2.2
Scope and coverage
This Chapter shall specifically to trade in goods between the Parties as follows.

• (a) Final products produced within Korea and/or assembled by companies registered in Korea covering the following products;
  1. Automobile and automobile parts, Semiconductors, and Electronics
• (b) Primary Goods produced by Korea Egypt and/or extracted and refined by companies registered in Korea covering the following products;
  1. Tungsten and Molybdenum
• (c) Primary Goods and Energy Services provided by Egypt and/or extracted and shipped by companies registered in Egypt covering the following products;
  1. Metals, Chemicals, & Paper;
• (d) Final goods and products produced and/or assembled by companies registered in Egypt;
  1. Electrical Equipment, Transport equipment, Chemicals, Metals, and Paper

Article 2.3
Customs duty
For the purposes of this Chapter, a customs duty includes any duty or charge of any kind imposed on, or in connection with, the importation of a good, including any form of surtax or surcharge imposed on, or in connection with, such importation. It shall and not include any:
(a) charge equivalent to an internal tax imposed in respect of the like domestic good or in respect of an article from which the imported good has been manufactured or produced in whole or in part;
(b) duty imposed pursuant to a Party’s law consistently with Chapter Three (Trade Remedies);
(c) fee or other charge imposed pursuant to a Party’s law consistently with Article 2.10;
Article 2.4
Classification of goods
The classification of goods in trade between the Parties shall be that set out in each Party’s respective tariff nomenclature interpreted in conformity with the Harmonized System of the International Convention on the Harmonized Commodity Description and Coding System
Article 2.5
Elimination of customs duties
1. Except As otherwise provided by the Agreement, each Party shall eliminate its customs duties on originating goods of the other Party in accordance with section A article 2.2.
3. As agreed upon by the two parties, Section A, Article 2.2, sub-article d, chemicals, paper, and metals classified as final products shall be exempt under their authentication of final use by the relevant Korean authority. The import of primary goods as a final good shall be judged by competent import/export customs officers for their use within Korea. This arrangement shall remain in place for as long as the two parties agree. Korea may reinstate tariffs on the aforementioned final goods without violation of the terms and conditions of thie agreement.
4. Five years after the entry into force of this Agreement, on the request of either Party, the Parties shall consult to consider accelerating and broadening the scope of the elimination of customs duties on imports between them and expand Section A, Article 2.2. Scope and Coverage. Following such consultations, on the acceleration or broadening of the scope of the elimination of a customs duty on a good shall supersede any duty rate or staging category determined.
Article 2.6
Standstill
Except as otherwise provided in this Agreement, neither Party may increase any existing customs duty, or adopt any new customs duty, on an originating good of the other Party. This shall not preclude that either Party may raise a customs duty to the minimum level agreed upon by this agreement following a unilateral reduction.
Article 2.7
Administration and implementation of tariff-rate quotas
2. Each Party shall ensure that:

• (a) its procedures for administering its tariff-rate quotas (herein referred to as TRQs) are transparent, made available to the public, timely, non-discriminatory, responsive to market conditions, minimally burdensome to trade, and reflect end-user preferences;
• (b) any person of a Party that fulfils the importing Party’s legal and administrative requirements shall be eligible to apply and to be considered for a TRQ allocation by the Party. Unless the Parties otherwise agree by decision of the Committee on Trade in Goods, any processor, retailer, restaurant, hotel, food service distributor or institution, or any other person is eligible to apply for, and to be considered to receive, a TRQ allocation. Any fees charged for services related to an application for a TRQ allocation shall be limited to the actual cost of the services rendered;
• (c) except as specified in Article 2.5 Clause 3, it does not allocate any portion of a TRQ to a producer group, condition access to a TRQ allocation on the purchase of domestic production, or limit access to a TRQ allocation to processors; and it allocates TRQs in commercially viable shipping quantities and, to the maximum extent possible, in the amounts that importers request.
• (d) each TRQ allocation shall be valid for any item or mixture of items subject to a particular TRQ, regardless of the item’s or mixture’s specification or grade, and shall not be conditioned on the item’s or mixture’s intended end-use or package size.

3. Each Party shall identify the entity responsible for administering its TRQs.
4. Each Party shall make every effort to administer its TRQs in a manner that allows importers to fully utilize TRQ quantities
5. Neither Party may condition application for, or utilization of, TRQ allocations on the re-export of a good.
SECTION C
Non-tariff measures
Article 2.8
National treatment
Each Party shall accord national treatment to goods of the other Party.
Article 2.9
Import and export restrictions
Neither Party may adopt or maintain any prohibition or restriction other than duties, taxes or other charges on the importation of any good of the other Party or on the exportation of sale for export of any good destined for the territory of the other Party/
Article 2.10
Fees and other charges on imports
Each Party shall ensure that all fees and charges of whatever character (other than customs duties and the items that are excluded from the definition of a customs duty under Article 2.3(a), (b) and (d)) imposed on, or in connection with, importation are limited in amount to the approximate cost of services rendered, are not calculated on an ad valorem basis, and do not represent an indirect protection to domestic goods or taxation of imports for fiscal purposes.
Article 2.11
Duties, taxes or other fees and charges on exports
Neither Party may maintain or institute any duties, taxes or other fees and charges imposed on, or in connection with, the exportation of goods to the other Party, or any internal taxes, fees and charges on goods exported to the other Party that are in excess of those imposed on like goods destined for internal sale.
SECTION D
Specific exceptions related to goods
Article 2.12
General exceptions
1. The Parties affirm that their existing rights and obligations under Charter of the Global Assembly and organ agencies decisions, which are incorporated into and made part of this Agreement, shall not be considered a renegation on the terms of this agreement should a party be subject to export/import restrictions.
2. Where exceptional and critical circumstances requiring immediate action make prior information or examination impossible, the Party intending to take the measures may apply forthwith the precautionary measures necessary to deal with the situation and shall inform the other Party immediately thereof.
SECTION F
MOTOR VEHICLES AND PARTS
Article 1
General provisions
Recognizing the importance of motor vehicles and parts for growth, employment and trade for both Party, the Parties confirm their shared objectives and principles, for these products, of:

• (a) ensuring full market access by elimination of tariffs and non-tariff obstacles to bilateral trade pursuant to this Agreement by Egypt;
• (b) promoting compatibility of regulations based on international standards;
• (c) establizhing competitive market conditions based on principles of openness, non-discrimination and transparency;
• (d) securing the protection of human health, safety and environment; and
• (e) enhancing cooperation to foster continued mutually beneficial development in trade.
• (f) aiming for the deliverance on the target goal of annual imports of automobiles of the Egyptian Government as signified in the trade negotiations.

Article 2
Regulatory convergence
1. The Parties recognize that the World Forum for Harmonization of Vehicle Regulations (hereinafter referred to as the ‘WP.29’), is the relevant international standard-setting body for the products covered by this Annex.
Article 3
Market access
Egypt shall allow on its market the products originating or assembled by companies registered in Korea, in accordance with this Agreement:
(ii) Egypt shall accept any product that complies with the requirements listed in Article 2.5 as complying with the corresponding provisions of the applicable Egypt technical regulations (1);
CHAPTER THREE
TRADE REMEDIES
SECTION A
Bilateral safeguard measures
Article 3.1
Application of a bilateral safeguard measure
1. If, as a result of the reduction or elimination of customs duty under this Agreement, originating goods of a Party are being imported into the territory of the other Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to cause or threaten to cause serious injury to a domestic industry producing like or directly competitive goods, the importing Party may adopt measures to safeguard the respective industry/good.
2. The importing Party may take a bilateral safeguard measure which:
(a) suspends further reduction of the rate of customs duty on the good concerned provided for under this Agreement; or
(b) increases the rate of customs duty on the good to a level which does not exceed the lesser of:

• (i) the MFN applied rate of customs duty on the good in effect at the time the measure is taken;

Article 3.2
Conditions and limitations
1. A Party shall notify the other Party in writing of the initiation of an investigation and consult with the other Party as far in advance of applying a bilateral safeguard measure as practicable, with a view to reviewing the information arising from the investigation and exchanging views on the measure.
2. A Party shall apply bilateral safeguard measures only following an investigation by its competent authorities.
3. Each Party shall ensure that its competent authorities complete any such investigation within one year of its date of initiation.
4. Neither party may apply a bilateral safeguard measure:

• (a) except to the extent, and for such time, as may be necessary to prevent or remedy serious injury and to facilitate adjustment;
• (b) for a period exceeding two years, except that the period may be extended by up to two years if the competent authorities of the importing Party determine, in conformity with the procedures specified in this Article, that the measure continues to be necessary to prevent or remedy serious injury and to facilitate adjustment and that there is evidence that the industry is adjusting, provided that the total period of application of a safeguard measure, including the period of initial application and any extension thereof, shall not exceed four years; or
• (c) beyond the expiration of the transition period, except with the consent of the other Party.

Article 3.3
Provisional measures
In critical circumstances where delay would cause damage that would be difficult to repair, a Party may apply a bilateral safeguard measure on a provisional basis pursuant to a preliminary determination that there is clear evidence that imports of an originating good from the other Party have increased as the result of the reduction or elimination of a customs duty under this Agreement, and such imports cause serious injury, or threat thereof, to the domestic industry. The duration of any provisional measure shall not exceed 200 days. The Party shall promptly refund any tariff increases if the investigation does not result in a finding that the requirements of Article 3.1 are met.
Article 3.4
Compensation
1. A Party applying a bilateral safeguard measure shall consult with the other Party in order to mutually agree on appropriate trade liberalizing compensation in the form of concessions having substantially equivalent trade effects or equivalent to the value of the additional duties expected to result from the safeguard measure. The Party shall provide an opportunity for such consultations no later than 30 days after the application of the bilateral safeguard measure.
2. If the consultations do not result in an agreement within 90 days after the consultations begin, the Party whose goods are subject to the safeguard measure may suspend the application of substantially equivalent concessions to the Party applying the safeguard measure.
3. The right of suspension referred to Paragraph Shall not be exercised for the first 24 months during which a bilateral safeguard measure is in effect, provided that the safeguard measure conforms to the provisions of this Agreement.

SECTION D
Anti-dumping and countervailing duties
Article 3.5
General provisions
1. The Parties agree that anti-dumping and countervailing duties should be used in full compliance with the relevant international requirements and should be based on a fair and transparent system as regards proceedings affecting goods originating in the other Party. For this purpose the Parties shall ensure, immediately after any imposition of provisional measures and in any case before the final determination, full and meaningful disclosure of all essential facts and considerations which form the basis for the decision to apply measures without prejudice. Disclosures shall be made in writing, and allow interested parties sufficient time to make their comments.
2. In order to ensure the maximum efficiency in handling anti-dumping or countervailing duty investigations, and in particular considering the adequate right of defence, the use of English shall be accepted by the Parties for documents filed in anti-dumping or countervailing duty investigations. Nothing in this paragraph shall prevent Korea or Egypt from requesting a clarification written in Korean or Egyptese if:
(a) the meaning of the documents filed is not deemed reasonably clear by the Parties’ investigating authorities for the purposes of the anti-dumping or countervailing duty investigation; and
(b) the request is strictly limited to the part which is not reasonably clear for the purposes of the anti-dumping or countervailing duty investigation.
3. Provided that it does not unnecessarily delay the conduct of the investigation, interested parties shall be granted the opportunity to be heard in order to express their views during the anti-dumping or countervailing duty investigations.
Article 3.6
Notification
1. After receipt by a Party’s competent authorities of a properly documented anti-dumping application with respect to imports from the other Party, and no later than 15 days before initiating an investigation, the Party shall provide written notification to the other Party of its receipt of the application.
2. After receipt by a Party’s competent authorities of a properly documented countervailing duty application with respect to imports from the other Party, and before initiating an investigation, the Party shall provide written notification to the other Party of its receipt of the application and afford the other Party a meeting to consult with its competent authorities regarding the application.
Article 3.7
Consideration of public interests
The Parties shall endeavor to consider the public interests before imposing an anti-dumping or countervailing duty.
Article 3.8
Lesser duty rule
Should a Party decide to impose an anti-dumping or countervailing duty, the amount of such duty shall not exceed the margin of dumping or countervailable subsidies, and it should be less than the margin if such lesser duty would be adequate to remove the injury to the domestic industry.
Article 3.9
Dispute settlement
Neither Party may have recourse to dispute settlement for any matter arising under this Section. Both parties shall agree to arbitration of which both parties shall select one arbitrator and a third party shall be brought in as the chief arbitrator. Such arbitration process shall be governed by civil law in the jurisdiction of the third party and be organized under ad hoc procedures as reached by consensus of the disputing parties.


CHAPTER FOUR
TECHNICAL BARRIERS TO TRADE
Article 4.1
Affirmation of the principles of technical Barriers to Trade
The Parties affirm their existing rights and obligations with respect to each other under the principles on reducing technical barriers to trade which are incorporated into and made part of this Agreement.
Article 4.2
Marking and labelling
1. The Parties note that a technical regulation may include or deal exclusively with marking or labelling requirements, and agree that where their technical regulations contain mandatory marking or labelling, they will observe that technical regulations should not be prepared with a view to, or with the effect of, creating unnecessary obstacles to international trade, and should not be more trade restrictive than necessary to fulfil a legitimate objective.
2. In Particular, the Parties agree that were Party requires mandatory marking or labelling of products:
(a) the Party shall endeavor to minimize its requirements for marking or labelling other than marking or labelling relevant to consumers or users of the product. Where labelling for other purposes, for example, for fiscal purposes is required, such a requirement shall be formulated in a manner that is not more trade restrictive than necessary to fulfil a legitimate objective;
(b) the Party may specify the form of labels or markings, but shall not require any prior approval, registration or certification in this regard. This provision is without prejudice to the right of the Party to require prior approval of the specific information to be provided on the label or marking in the light of the relevant domestic regulation;
(c) where the Party requires the use of a unique identification number by economic operators, the Party shall issue such number to the economic operators of the other Party without undue delay and on a non-discriminatory basis;
(d) the Party shall remain free to require that the information on the marks or labels be in a specified language. The simultaneous use of other languages shall not be prohibited, provided that, either the information provided in the other languages shall be identical to that provided in the specified language, or that the information provided in the additional language shall not constitute a deceptive statement regarding the product; and
Article 4.3
Market access
1. With respect to market access through the Cross-border supply of services, each Party shall accord to services and service suppliers of the other Party treatment no less favourable than that provided for under the terms, limitations and conditions agreed and specified in the specific commitments made by the Parties.
2. In sectors where market access commitments are undertaken, the measures which a Party shall not adopt or maintain either on the basis of a regional subdivision or on the basis of its entire territory,are defined as:

• (a) limitations on the number of service suppliers whether in the form of numerical quotas, monopolies, exclusive service suppliers or the requirement of an economic needs test (9);
• (b) limitations on the total value of service transactions or assets in the form of numerical quotas or the requirement of an economic needs test; and
• (c) limitations on the total number of service operations or on the total quantity of service output expressed in the terms of designated numerical units in the form of quotas or the requirement of an economic needs test (10).

CHAPTER FIVE
Article 5.1
Rules of interpretation
Any arbitration panel shall interpret the provisions referred to in Article 14.2 in accordance with customary rules of interpretation of public international law, including those codified in the Vienna Convention on the Law of Treaties. Where an obligation under this Agreement is identical to an obligation under the WTO Agreement, the arbitration panel shall adopt an interpretation which is consistent with any relevant interpretation established in rulings of the WTO Dispute Settlement Body (hereinafter referred to as the ‘DSB’). The rulings of the arbitration panel cannot add to or diminish the rights and obligations provided for in the provisions referred to in Article 14.2.
Article 5.2
Arbitration panel decisions and rulings
1. Thearbitrationpanelshallmakeever Effort To Take Any decision by consensus. Where, nevertheless, a decision cannot be arrived at by consensus, the matter at issue shall be decided by majority vote. In no case shall dissenting opinions of arbitrators be published.
2. Any Ruling Ofthe Arbitration Panel shall Binding The Parties and shall not create any rights or obligations for natural or legal persons. The ruling shall set out the findings of fact, the applicability of the relevant provisions of this Agreement and the basic rationale behind any findings and conclusions that it makes. The Trade Committee shall make the arbitration panel rulings publicly available in its entirety unless it decides not to do so.

SECTION D
General provisions
Article 5.3
List of arbitrators
1. The Trade Committee shall, no later than six months after the entry into force of this Agreement, establish a list of 15 individuals who are willing and able to serve as arbitrators. Each Party shall propose five individuals to serve as arbitrators. The Parties shall also select five individuals who are not nationals of either Party and shall act as chairperson to the arbitration panel. The Trade Committee will ensure that the list is always maintained at this level.
Security exceptions
Nothing in this Agreement shall be construed:

• (a) to require any Party to furnish any information, the disclosure of which it considers contrary to its essential security interests;
• (b) to prevent any Party from taking any action which it considers necessary for the protection of its essential security interests:
  • (i) connected with the production of or trade in arms, munitions or war material or relating to economic activities carried out directly or indirectly for the purpose of provisioning a military establishment;
  • (ii) relating to fissionable and fusionable materials or the materials from which they are derived; or
  • (iii) taken in time of war or other emergency in international relations; or
• (c) to prevent any Party from taking any action in order to carry out its international obligations for the purpose of maintaining international peace and security.
  

Article 5.4
Entry into force
1. This Agreement shall be approved by the Parties in accordance with their own procedures.
2. This Agreement shall enter into force 60 days after the date the Parties exchange written notifications certifying that they have completed their respective applicable legal requirements and procedures or on such other date as the Parties may agree.
3. Notifications shall be sent to the Ministry of Foreign Affairs of Egypt, or its successor and to the Ministry of Foreign Affairs and Trade of Korea, or its successor.
2. Either Party immediately takes appropriate measures in accordance with international law in case of denunciation of this Agreement not sanctioned by the general rules of international law.

Article 5.5
Relation with other agreements
1. The present Agreement shall be an integral part of the overall bilateral relations.
2. The Parties agree that nothing this Agreement requires them to act in a manner inconsistent with their obligations under international law.

Article 5.6
Territorial application
1. This Agreement shall be provisionally applied from the first day of the month following the date on which Korea and Egypt have notified each other of the completion of their respective relevant procedures.
2. In the event that certain provisions of this Agreement cannot be provisionally applied, the Party which cannot undertake such a provisional application shall notify the other Party of the provisions which cannot be provisionally applied. Provided the other Party has completed the necessary procedures and does not object to provisional application within 10 days of the notification that certain provisions cannot be provisionally applied, the provisions of this Agreement which have not been notified shall be provisionally applied the first day of the month following the notification.
4. A Party may terminate a provisional application by written notice to the other Party. Such termination shall take effect on the first day of the month following notification.
5. Where this Agreement, or certain provisions thereof, is provisionally applied, the term ‘entry into force of this Agreement’ shall be understood to mean the date of provisional application.

Article 5.7
Duration
1. This Agreement shall be valid Indefinitely.
2. Either Party may notify in writing the other Party of its intention to denounce this Agreement.
3. The denunciation will take effect nine months after the notification.

Article 5.8
Fulfilment of obligations
1. The Parties shall take any general or specific measures required to fulfil their obligations under this Agreement. They shall see to it that the objectives set out in this Agreement are attained.
2. The Agreement shall apply to the territories in which are recognized as part of Egypt by the Global Assembly, on the one hand, and to the territories of Korea which are recognized by the Global Assembly on the other hand.
3. These provisions concerning the tariff treatment of goods, this Agreement shall also apply to those areas of the respective parties' customs territory.

Article 5.9
Authentic texts
This Agreement is drawn up in duplicate in the Korean and Modern Standard Arabic languages being equally authentic.

 

[Jay]

To: Ministry of Trade < Thomas R. Jones >

From: KimDaejeong@mtie.kr.gov < Ministry of Trade Investment & Energy >

Subject: [Trade] [Egypt] Trade Agreement

Security: Private and encrypted Protected by the NIS and MoFA DPB

Dear Minister Dr. El-Rifa,

Thank you for your prompt response. I look forward to our deliberations. Please find emailed in our secured PDF, our proposal for the Korea-Egypt Trade Agreement. I look forward to your reviews and input.

Signed with sincerity,
Minister of Trade, Investment, and Energy
Kim Dae-jeong
Republic of Korea

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Republic of Korea
Ministry of Trade, Industry, & Energy
All information is protected from release by the Diplomatic Communications Security Act 1997
Authorized viewing is limited to those directly emailed, cc'd, and bcc'd​

 

[Thomas R. Jones]

​

From: Trade Minister Dr. Mustafa El-Rifa

To: Minister Kim Daejeong [ Jay ]

Minister, I have reviewed the proposed agreement with great interest, and after consulting with the President, I am glad to confirm that we will be accepting it. The deal will benefit both sides and we can see no reason to reject it. I propose a summit, either in Egypt or South Korea, to finalise the details, and to further the relations between our nations. Regards, Dr. Mustafa El-Rifa Minister of Trade and Industry

 

[Jay]

To: Ministry of Trade < Thomas R. Jones >

From: KimDaejeong@mtie.kr.gov < Ministry of Trade Investment & Energy >

Subject: [Trade] [Egypt] Trade Agreement

Security: Private and encrypted Protected by the NIS and MoFA DPB

Dear Minister Dr. El-Rifa,

Thank you for your review and support for the proposed agreement. I would be happy to visit the beautiful city of Cairo and attend a summit to discuss the specific trade routes and technical aspects. I look forward the discussions. If the wider ROK-Egypt relations should be discussed, we would be happy to bring with us a number of diplomatic staff for the political affairs as well.

Signed with sincerity,
Minister of Trade, Investment, and Energy
Kim Dae-jeong
Republic of Korea

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Republic of Korea
Ministry of Trade, Industry, & Energy
All information is protected from release by the Diplomatic Communications Security Act 1997
Authorized viewing is limited to those directly emailed, cc'd, and bcc'd​