The new protocol is expected to promote trade liberalization, and main topics are as follows.
- Further improvement of market accesss conditions related to trade in goods:
- Acceleration of the elimination of tariffs imposed on certain auto parts and paper for ink-jet printers (They will be eliminated in 2012, two years earlier than the original schedule).
- Elimination of tariffs on mandarin oranges and the establishment of tariff rate quotas for apples and green tea.
- Expansion of tariff rate quotas and reductions of in-quota tariffs applied to beef, pork, chicken, orange and orange juice
- Establishment of a tariff rate quota for agave syrup: Fructose syrup from Agave (Negotiations regarding pineapples, durum wheat, cane sugar, etc. will take place in 2014.)
- The application of most-favored nation (MFN) applied tariff rates on particular goods in case these rates are lower than those under the EPA:
- A provision has been added to apply MFN applied tariff rates under the WTO on particular goods in case the MFN rates are lower than the corresponding tariff rates under the EPA.
- Introduction of the Approved Exporter System:
- In order to facilitate procedures for certification of origin, the rules on the Approved Exporter System will be introduced.