Wednesday, October 17, 2018
 New Zealand Signs Free Trade Deal with South Korea  

New Zealand has signed a free trade agreement (FTA) with South Korea that cut duties by $65 million in its first year. Trade Minister Tim Groser, in Seoul to sign the deal, said New Zealand paid $229m a year in duties on the goods it sold to South Korea. The biggest beneficiaries of the agreement will be the beef and dairy industries.

Dairy trade is worth $263m, with exporters at present paying tariffs of between 8 and 176 percent.

New Zealand is playing catch-up with the deal, since competitors such as the Australia, United States, Canada, Chile, and the European Union already have FTAs with South Korea.


Source: NZFarmer


Posted on Thursday, March 26, 2015 (Archive on Thursday, April 02, 2015)
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