CETA and its advantage for Danish companies Canada is Denmark`s 13th largest trading partner outside the EU, and the trade agreement now makes it easier and cheaper for Danish companies to export goods and services to Canada. Denmark will benefit from the removal of tariffs on virtually all its exports, including medicines and medical devices, electrical machinery and equipment, furniture, agri-food products and a wide range of services. Danish small and medium-sized enterprises, in particular, will benefit from the agreement, as CETA removes trade barriers, tariff sales, simplified customs procedures and more compatible technical requirements facilitate and make exports cheaper. In particular, CETA will create tariff savings by removing tariffs on 99% of all tariffs. The EU has signed free trade agreements with some of Denmark`s main export and import markets outside the EU. These include Canada, Egypt, Japan, Norway, Switzerland, South Korea and Turkey. The use of EU free trade agreements should not be so difficult. 1 The FREE Trade Agreement BETWEEN the EU and Korea in practice – see page 3 2 South Korea: Trade Image, European Commission, December 2019 Bilateral trade agreements are an important complement to the outcome of multilateral WTO negotiations. Bilateral trade agreements can open up market access and remove trade barriers with major trading partners for export growth and employment. Next-generation bilateral trade agreements also aim to promote high standards for global trade, including in areas such as product standards, workers` rights and environmental protection.
NOTE: The trade agreement applies to customs duties, not taxes. All VAT on imports into the EU or South Korea has yet to be paid. Important note: it is important that the declaration is properly completed or can be rejected by customs. Please consider the official text of the original declaration in Schedule III of the official agreement. The text contains explanatory notes and is available in all applicable languages. The rules of origin for a country`s products are set out in a protocol on origin attached to the specific agreement between the EU and the country concerned. In order for your company to benefit from the duty-free benefits of EU free trade agreements, the most important condition is that these products be manufactured in Denmark or another EU Member State and that products imported into Denmark be manufactured in one of the 70 countries with which the EU has signed a free trade agreement. The prerequisite is also that the origin of the product can be documented. The EU has free trade agreements with countries around the world. Beyond the usual chapter of preferential tariff treatment, these agreements often contain trade facilitation and agreement clauses in areas such as investment, intellectual property, public procurement, technical standards, and health and plant health issues. Although international trade policy can be conducted bilaterally and regionally, Denmark and the EU remain firmly committed to supporting multilateral negotiations. The World Trade Organization (WTO) is the main priority of Denmark`s and the EU`s trade policy.
The WTO creates an international legal system with strict rules and legitimacy and provides the necessary safeguards for all players in the global economy. These include inclusion and consideration of developing countries.