Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Korean Economy Presents Opportunities For Nz

PRESS RELEASE

KOREAN ECONOMY PRESENTS OPPORTUNITIES FOR NZ

Minister for Trade Negotiations Hon Jim Sutton says that the Korean economy has rebounded from crisis faster than any other in Asia.

Mr Sutton is currently visiting Korea, to attend the Asia Pacific Economic Co-operation Seoul Forum.

The rebounding of the Korean economy opened up many new opportunities for New Zealand exporters, he said yesterday.

"Our bilateral trade with Korea recovered by more than a third last year, to total $1.5 billion, which means we are back in business after Korea's economic crisis." Korea is New Zealand's fifth-largest export market.

"New Zealand exports to Korea were worth just under $1 billion last year, driven by strong recoveries in Korea's manufacturing industries and consumer spending," Mr Sutton said.

"The outlook for New Zealand's important primary commodities such as timber and food is good, but it is apparent to me that there are also abundant opportunities in Korea for high-tech and value-added New Zealand exports."

Mr Sutton said that during a meeting with Korea's Minister of Information and Communications Ahn Byung-yup, he was impressed by plans the Korean Government was developing to transform Korea into a knowledge-based economy.

"Minister Ahn expects internet connections in Korea to double from 10 million to 20 million by the end of this year.

"Such an explosion in information technology development offers major opportunities for New Zealand's innovative software and telecommunications industries, and will change the way other exporters do business in this market."

Mr Sutton said there was also great potential in Korea for New Zealand's education and tourism services.

"Korea's large and affluent middle class places a high value on seeking quality education in English-speaking countries.

"Koreans are also travelling overseas again and New Zealand is well-placed to build on its good reputation to become a favourite destination for them."

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

KiwiBailed: KiwiBuild Head Officially Resigns

The head of Kiwibuild, Stephen Barclay has officially resigned from the role. In a statement issued on his behalf, it was announced that he would step down from today [Friday].

Housing Minister Phil Twyford's office said he would not be commenting on Mr Barclay's resignation as it was an employment matter. Last month, Mr Twyford confirmed that Mr Barclay had not been at work for a number of weeks. More>>

 

Welfare Stats: Rise In Hardship Numbers Shows Income Inadequacy

The latest Ministry of Social Development quarterly report show that a record number of people have received hardship assistance from work and income, with an additional 40,000 hardship payments made between September and December 2018, compared to the previous quarter of the same year... More>>

ALSO:

DHBs "Prepared": Junior Doctors Strike Again

The needs of acute patients will be met during tomorrow's junior doctor strike, a DHB spokesperson says... Almost 3000 junior doctors are expected to walk off the job, which will affect all DHBs apart from West Coast District Health Board. More>>

ALSO:

Gordon Campbell: On MBIE’s Social Media Scam

Given the ambit of MBIE’s work, almost any form of social activity could qualify as being part of MBIE’s brief, so the privacy threats posed by this training programme are extensive. The current oversight safeguards seem threadbare to non-existent. More>>

ALSO:

JusTrade: New Campaign For A 21th Century Trade Agenda

‘Critique is no longer enough. If anything is to really change, we need to step away from the existing framework and take a first-principles approach to rethinking what will work for the 21st century.’ More>>

Earlier:

Gordon Campbell: Thompson + Clark Are The Tip Of The Iceberg

How can we tell where and how any lines are being drawn? Oversight is not exactly robust. If it were, Thompson + Clark would have been out of contention for state security work ten years ago. More>>

Trainers: Taratahi Institute of Agriculture In Interim Liquidation

Taratahi employ 250 staff and this year has provided education to over 2500 students. Taratahi owns and manages 8 farms throughout the country. More>>

ALSO:

IPCA Report: Complaints About Deputy Commissioner Wallace Haumaha

The Authority has found that DC Haumaha acted improperly by approaching staff and others to provide information to support him to refute the allegations about his 2016 conduct, or solicited other staff to do so on his behalf... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels