UPS Canada Welcomes Proposed Free Trade Agreement Between Canada and South Korea

Statement by Mike Tierney, President of UPS Canada, on the Proposed Canada-South Korea Free Trade Agreement.

MISSISSAUGA, ON, March 13, 2014 /CNW/ - Canada's first Free Trade Agreement with a top performing Asian market should deliver strong future economic benefits for Canada and enhance private sector competitiveness.

UPS Canada welcomes the proposed Free Trade Agreement (FTA) between Canada and South Korea; a significant milestone for both countries. While Canada and South Korea work to finalize the deal, UPS fully endorses the agreement in principle, as it will generate new growth and export opportunities for small, medium and large enterprises. These enterprises will have enhanced access to the 13^th largest economy globally, which coupled with the recently signed Canada Europe Trade Agreement (CETA), creates exceptional momentum to drive export volumes over the long-term.

As one of the largest global logistics companies focused on facilitating international trade, UPS looks forward to studying the specific details of the agreement in the weeks ahead so as to counsel our customers on how best to strategically capitalize on the deal. As an advocate of bilateral and multilateral free trade, we are confident this agreement signed by Prime Minister Harper and President Park will deliver promising new channels of trade for both countries.

UPS is particularly pleased to see that the deal provides clear and simple rules of origin, as well as transparent and effective origin procedures to administer the rules without creating unnecessary barriers to trade. In addition, the Canada/South Korean FTA includes advance rulings on origin and tariff classifications, promotion of automated border procedures and impartial and transparent system for addressing complaints about customs issues.

UPS commends the country's commitment to growing its trade partners - particularly in diversifying Canadian exports to markets like South Korea. The company looks forward to the deal being finalized and to seeing what international opportunities will be created as a result.

SOURCE UPS Canada Ltd.

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