Celebrating Our Ties to Korea

“The New Zealand Embassy has kicked off a month-long festival in October to celebrate growing commercial and cultural links with Korea, expected to expand further after the free trade agreement likely comes into force this year,” Joel Lee reports for the Korea Herald.

“The bilateral agreement was signed in March during the visit of New Zealand’s Trade Minister Tim Groser and [a] delegation of 35 business representatives to Korea. New Zealand’s parliament has completed its ratification, while Korea’s National Assembly is currently reviewing it.

“The FTA covers trade of goods and services as well as investment, encompassing agriculture, education, science and technology, pharmaceuticals, forestry and fishery.

“As a ‘high-quality’ deal, it also includes banking, finance and consulting, as well as creative industries of art, film, television and gaming, which will all be subject to domestic regulations.

“Bilateral trade reached $2.6 billion last year, evenly split between exports and imports. Korea mainly imports from New Zealand metals, organic chemicals, plastics, minerals, forestry products, fisheries, dairies, beef and lamb and kiwis; New Zealand imports Korean cars, electronics, machinery and refined oil.

“The embassy will organise over 20 events this month as part of the festival, including a seafood and wine-tasting event, education seminar, tourism reception, gala dinner, music concert, alumni networking night, Kiwi Chamber breakfast and investment seminar.”

Original article by Joel Lee, The Korea Herald, October 11, 2015.

Photo by Joel Lee.

Tags: free trade agreement  Korea  Korea Herald (The)  

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