b'II. Why must the UK pay to access the EU Single Market? 1https://ec.europa.eu/eurostat/statistics- 13 explained/index.php/China-EU_- https://webgate.ec.europa.eu/isdb_results/fac_international_trade_in_goods_statistics tsheets/country/details_south-korea_en.pdf214 https://tradingeconomics.com/south-korea/ http://www.europarl.europa.eu/RegData/et foreign-direct-investmentudes/STUD/2017/603847/EXPO_STU(2015 17)603847_EN.pdf https://www.statista.com/statistics/263758/gross-domestic-product-gdp-growth-in-south-3 https://www.wto.org/english/res_e/ booksp_e/tariff_profiles18_e.pdfkorea/4 Under the WTO Most Favoured Principle,16 The EUs new Generalised Scheme of nations are obligated to apply a fixed tariffPreferences (GSP), European Commission. rate to all countries with which they tradeOctober 2012. (outside of certain exceptions). These fixedhttp://trade.ec.europa.eu/doclib/docs/2012/otariffs are referred to as Boundtariffs.ctober/tradoc_150028.pdf5 http://ec.europa.eu/competition/consumers/17 European Parliament. Fact Sheets on the government_aid_en.htmlEuropean Union. Trade Regimes Applicable to Developing Countries. Elfriede Bierbrauer.6 Mexico.European Commission. LastJuly 2013. Web. Modified September 24, 2014. http://ec.europa.eu/trade/policy/countries- 18 http://trade.ec.europa.eu/doclib/ docs/2017/july/tradoc_155841.pdf and-regions/countries/mexico/7 http://trade.ec.europa.eu/doclib/docs/2018/19 http://databank.worldbank.org/data/ download/site-content/CLASS.xls may/tradoc_156888.pdf 8http://ec.europa.eu/trade/policy/countries- 20 http://trade.ec.europa.eu/doclib/ docs/2018/january/tradoc_156536.pdf and-regions/countries/mexico/ 21 http://trade.ec.europa.eu/doclib/ 9 http://trade.ec.europa.eu/doclib/docs/2018/docs/2018/january/tradoc_156536.pdf may/tradoc_156888.pdf22 Withanawasam MPK and Kumara UA. The 10http://ec.europa.eu/trade/policy/countries- Impact of GSP+ Withdrawal on Sri Lankan and-regions/countries/south-korea/ Economy. University of Sri Jayewardenepura. Proceedings of International Conference on 11 South Korea. European Commission.Business Management. December 2013. Last modified September 9, 2014. Accessed October 16, 2014.23 http://ec.europa.eu/trade/policy/countries- http://www.sundaytimes.lk/141019/news/chinand-regions/countries/south-korea/a-gets-controlling-stake-at-hambantota-port-123262.html12https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=OJ:L:2011:127:TOC252'