CARM: What all importers need to know about CARM

Route Article

Canada – Korea Free Trade Agreement implemented

     Korea export boxes

Under the new Canada-Korea Free Trade Agreement (CKFTA), which became effective January 1, 2015, numerous tariffs are being eliminated or phased out over the next 11 years.  Many tariffs are eliminated immediately, with the rest falling into these general phasing categories:

  • 3 years: Apparel
  • 3-5 years: Appliances, Consumer Electronics, Chemicals, Aluminum, Automotive (Light Vehicles), Automotive (Parts)
  • 3, 5 or 11 years: Ships
  • 5 years: Agriculture
  • 5-11 years: Footwear

As with NAFTA, a Certificate or Origin is required to take advantage of the reduced duty rates, and the goods must be imported directly from Korea to Canada.

For more information, contact Brian Rowe, General Manager – Customs Consulting Services.


Quick Tip #46
Issue Express Bills of Lading instead of Originals and avoid delays and unnecessary costs

Original Bills of Lading are a good way to ensure immediate payment of your merchandise on shipments where you do not have an established credit arrangement with your client.

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