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

Speaking on behalf of the ExportNZ division of BusinessNZ, 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 on the proposal.

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