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Chambers Agree To Promote A Korea-New Zealand FTA

Tuesday 25 October 2005

Chambers Agree To Promote A Korea-New Zealand FTA

Wellington Regional Chamber of Commerce President Simon Arnold and his counterpart from the Busan Chamber of Commerce and Industry last week signed an agreement committing both Chambers to promote to their respective Governments the advantages of an FTA between Korea and New Zealand.

“This agreement usefully compliments other work going on to promote an FTA between Korea and New Zealand. Busan is a major industrial centre in Korea and its Chamber of Commerce and Industry has considerable influence. Having a body of such weight promoting an FTA between Korea and New Zealand can only help New Zealand’s cause in Korea”, said Charles Finny CEO of the Wellington Regional Chamber of Commerce.

“Korea is already a very important market for New Zealand. Up until now an FTA has been difficult because we haven’t had strong champions for such a linkage in Korea. The Wellington Regional Chamber of Commerce has been promoting an FTA with Korea for some time.

Because of the sensitivity of agriculture in Korea we have been suggesting that we start negotiations with services and investment and move to goods last.

We understand that Korea might well be interested in such an approach. It would not be without precedent for New Zealand. Our FTA with Singapore and the failed negotiation with Hong Kong were essentially about services and investment. Let’s apply the same approach to Korea,” Charles Finny concluded.

ENDS

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