After almost a decade of difficult, on-and-off again talks, Canada and South Korea have agreed to a comprehensive free trade agreement, the first for Canada with an Asian-Pacific nation. Here are some key facts about the deal.

  • South Korea gross domestic product: $1.1 trillion.
  • Canada gross domestic product: $1.8 trillion.
  • Canada-South Korea merchandise trade in 2012: $10.1 billion.
  • Average South Korea tariffs on Canadian goods: 13.3 per cent.
  • Average Canadian tariffs on South Korean goods: 4.3 per cent.
  • Tariff lines to be eliminated by South Korea once deal fully implemented: 98.2 per cent.
  • Tariff lines to be eliminated by Canada once deal fully implemented: 97.8 per cent.
  • Tariff lines to be eliminated by South Korea on first day of implementation: 81.9 per cent.
  • Tariff lines to be eliminated by Canada on first day of implementation: 76.4 per cent.