July 20, 2012

Korea allows Chile beef imports

Korea's Ministry for Food, Agriculture, Forestry & Fisheries (MIFAFF) has allowed  Chilean beef imports into the country this week after its compliance on import health regulations.

Chile becomes the sixth overseas beef supplier in Korea, along with Australia, the US, New Zealand, Canada and Mexico. Korea and Chile completed a Free Trade Agreement (FTA) in April 2004. The trade deal included an annual 400 tonnes of beef (50% chilled and 50% frozen) to be exported tariff free once Korea finalised its evaluation process, with a focus on sanitation and quarantine issues.

According to the USDA, Chile exported only very small volumes in previous years. However, the volume specific tariff free conditions in Korea could cause Chilean exports to rise in coming years.