The Korea Food Industry Association said Wednesday it hosted an Indian government delegation visiting Seoul for Korea-India Comprehensive Economic Partnership Agreement (CEPA) improvement negotiations, along with officials from the Indian Embassy in Korea, at the Korea Food Research Institute.
The visiting delegation toured the institute's key testing and inspection facilities and research infrastructure — the institute is both a Ministry of Food and Drug Safety-accredited testing and inspection body and an ISO/IEC 17025 internationally recognized laboratory — and reviewed its analytical and testing systems for food safety as well as its technology support capabilities.
The two sides also discussed ways to expand bilateral food industry cooperation. The association conveyed difficulties faced by Korean food companies in connection with the CEPA improvement negotiations.
The association explained that the current CEPA rules of origin require companies to satisfy both the change in tariff heading (CTH) criterion and the build-down value-added criterion (BD 40%) simultaneously, placing a burden on companies seeking to use the agreement. It requested that the Indian side consider either recognizing the CTH criterion on its own or allowing preferential tariff treatment when only one of the two criteria — CTH or the value-added standard — is met.
"India is growing into a promising consumer market and production hub with a population of 1.4 billion," said Jeong Yong-ik, vice chairman of the Korea Food Industry Association. "We expect this visit to serve as an opportunity to strengthen Korea-India food industry cooperation and to invigorate food trade between the two countries through expanded use of CEPA."
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