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Publishing sector to prosper from Indo-South Korea trade deal.

THE PUBLISHING sector should prosper from a new India and South Korea trade deal, the latest major bilateral agreement made while the World Trade Organisation struggles to frame a universal treaty on liberalising commerce. This agreement between New Delhi and Seoul reduces import duties on exports traded between both countries of books and publishing materials. Assuming it is ratified, India has promised to phase out over nine years 12.5% duties on South Korean exports of dictionaries; encyclopaedias; children's picture, drawing and colouring books; book paper inputs; bookbinding and paper cutting machines; phototype-setting and composing machines; and other printing equipment, such as plate, block, cylinder and lithographic stones prepared for printing.

South Korea has promised to erase on ratification duties on children's picture, drawing or colouring books; coated textile fabrics used for book covers; book sewing machines and parts; and leaf-folding machines for book-binding. The agreement text said the deal would " promote reciprocal trade and investment."

ENDS
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Author:Nuthall, Keith
Publication:International News Services.com
Geographic Code:9SOUT
Date:Sep 1, 2009
Words:159
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