NMMA Canada endorses trade pact

Published On: May 1, 2014Categories: Industry News

The National Marine Manufacturers Association Canada (NMMA Canada) has announced its support for the Canada-Korea Free Trade Agreement. This trade agreement is the first for Canada with the Asian market. The Canada-Korea Free Trade Agreement will eliminate Korean duties on products exported by recreational boating companies. Tariffs on yachts and other vessels for pleasure or sports, as well as rowing boats and canoes, currently face Korean tariffs of up to 8 percent.  All duties for these goods would be eliminated within three years of the coming into force of the agreement.