South Korea, China Discuss Trade Barriers for Power Banks, Cosmetics
Quick Look
- South Korea and China held a virtual meeting to discuss reducing technical barriers to trade (TBTs) for products like power banks, cosmetics, and red ginseng.
- Seoul's agency raised concerns over Beijing's revised standards for power banks and lithium-ion batteries.
AI-generated summary
Why It Matters
South Korea and China have held regular TBT committee meetings since 2015 under their bilateral free trade agreement. Countries are increasingly imposing TBTs due to national interests and protectionism.
SEOUL, June 24 (Yonhap) -- South Korea and China discussed measures to reduce technical barriers to trade (TBTs), covering a wide range of products, including power banks and cosmetics, Seoul's standards agency said Wednesday.
During a virtual meeting with Chinese counterparts, the Korean Agency for Technology and Standards (KATS) under the trade ministry said it delivered South Korean businesses' concerns over Beijing's move to revise standards for power banks and lithium-ion batteries.
The two sides also discussed ways to ease hurdles to South Korean exports of red ginseng, cosmetics and medical devices, it added.
TBTs, which include consumer safety standards, as well as energy and environmental requirements, are often used as non-tariff barriers to trade.
South Korea and China have held regular TBT committee meetings under their bilateral free trade agreement (FTA) since 2015.
"Recently, countries have increasingly imposed TBTs as they prioritize national interests and strengthen protectionist measures," the standards agency said in a release. "To address such hurdles, South Korea will proactively utilize government communication channels related to TBTs."
Open Questions
- Will specific standards be revised?
- What is the timeline for implementation?
