Prohibition of duty drawback would nullify the benefits of the FTA for Korean products in the EU market.
Greg Hunt, the shadow minister for climate action, pointed to the EU market's price swings in the aftermath of Tuesday's vote.
Central American countries will benefit from greater open access to the EU market, with European consumers expected to benefit from lower prices.
Their main objection is that companies looking for access to the EU market set up in Ireland in order to minimize their Europe-wide tax payments.
The agreement would give duty free and quota free access to the EU market in return to liberalisation of their own markets to EU imports.
Latin American exporters had complained that they were facing unfair barriers to the EU market and had made repeated formal complaints to the World Trade Organisation (WTO).
The tough measures include a proposed ban on all tobacco advertising in newspapers and magazines across the European Union, as well as in those intended for the EU market.
The European Parliament's rapporteur on the agreements, British labour MEP David Martin broadly welcomed them, saying that two countries had two exports primarily destined for the EU market, namely tuna and sugar.
In Europe, she is remembered as a prickly leader who thrived on confrontation, but who ultimately agreed to foster some of the European Union's most significant developments, such as the creation of a single EU market.
Under the deal that has been struck, the EU will keep its ban on hormone-treated beef, but the import quota levels for non-hormone treated beef would be increased, giving greater access to the EU market for exporters in the US and Canada.
In Australia, Tony Abbott, the opposition leader, had already vowed to repeal a government policy to introduce a carbon market in 2015 -- which would eventually link to the EU market -- if his Liberal National coalition wins the federal election in September.
The American banks are very involved in the EU derivatives market too and this risk is truly globally constructed.
Have one EU base from which they service the entire EU Single Market.
The E-Money Directive is transposed into law and applied nationally by the various member countries within the EU Single Market.
That said, Belgian business life has been shaken up by an injection of competition thanks to the completion of the EU internal market.
"They must not take measures that in any way undermine the EU single market, " he said, adding: "we'll be watching like a hawk".
He said even the widely praised EU single market was "not working, because new things have been added, increasing the burdens on business".
BBC: EU debate: Conservative MEP deplores 'pitbull UK' image
It amounted to a guarantee that closer eurozone co-operation would not undermine the EU single market coupled with technical safeguards for the City of London.
FORBES: Don't Blame David Cameron For Opting Out Of The Euro Deal
The Cyprus presidency also aims to launch a Common European Asylum System by the end of this year and foster a deepening of the EU Single Market.
In February, an ECJ advocate general said this was in line with the aims of the EU single market - a border-free zone for goods and services.
He said he doubted whether the Nordic countries, with their generous social welfare, would accept the UK unilaterally diluting workers' rights and still remaining in the EU single market.
BBC: EU debate: Conservative MEP deplores 'pitbull UK' image
And efforts will not have been helped by a vote in the European Parliament that rejected an attempt by the Commission to prop up the extremely ailing EU carbon market.
BBC: Green energy on the back foot after carbon trading blow
In the UK, the governing Conservative Party is considering ways to limit immigration from Bulgaria and Romania when EU labour market restrictions are removed for the two countries next year.
Far more likely, I think, that airlines will find they have a lot more to lose by missing out on the lucrative EU aviation market than by charging customers a few more euros.
This was probably aimed at reassuring business leaders in the City of London, still jittery after Mr Sarkozy appeared to rejoice at the appointment of Frenchman Michel Barnier to oversee the EU single market, including financial services.
The ETS, as the EU carbon market is known, was designed to encourage companies to invest in technologies that reduce their emissions in the long term, rather than to simply buy more permits to emit more carbon-dioxide.
The leaders are hoping for progress on issues like increased Internet access, "welfare to work" incentives for the long-term unemployed, cutting red tape, and progress towards a single EU financial market, which would mean cheaper borrowing for firms, better returns for savers and cheaper insurance policies.
"The financial crisis started with the subprime debacle in the United States where mortgages were being handed out with no background checks carried out on whether consumers could afford them, and ill-informed and often vulnerable consumers were encouraged to take excessive risk, " said EU Internal Market Commissioner Michel Barnier.
Risk of EU default leading to market uncertainty: The EU heads, led by France and Germany, are trying to restructure Greek debt held by banks but uncertainty remains over whether rating agencies will still view this event as a default.
FORBES: Caterpillar Could Crawl To $116 With Earnings on Friday
应用推荐