Possible trade deal with Korea good news

Print

Possible trade deal with Korea good news

New Zealand is likely to gain from a free trade deal with Korea, says Business NZ.

Speaking on behalf of the Export NZ division of Business NZ, Chief Executive Phil O’Reilly says a deal would help grow New Zealand’s export of services to Korea and would also boost investment in both countries.

“Trade between our two countries is very complementary – our food products for their cars and electrical goods. A free trade agreement would help both countries grow and diversify the relationship.

“Korea is currently New Zealand’s sixth largest trading partner with much room for future growth.

“Consideration of a new trade deal is great news in the current economic environment -where there has been increasing talk of protectionism - and would add to the expanding web of trade relationships that New Zealand enjoys in Asia-Pacific.”

Mr O’Reilly urged the Government to work with business in drafting the agreement and was encouraging businesses that trade with Korea or have an interest in doing so, to make a submission to the Ministry of Foreign Affairs & Trade (ftk@mfat.govt.nz) on the proposal.