A Joint Statement between New Zealand and Korea will open the way to closer relations between hi-tech and science providers in both countries,
Minister for Commerce and Enterprise Max Bradford said today.

Mr Bradford and Korean Commerce Minister Chung Duck-koo signed the Joint Statement on Industry and Technology today in Auckland.

“Korea is our fifth largest export market and currently worth around $900 million per annum,” Mr Bradford said.

“Our current relationship is heavily concentrated on commodities, but Korea is a promising business partner in fields like technology, investment and services, as the country is increasingly at the leading edge of research in these areas.

“New Zealand also has a lot to offer Korea in areas such as, forestry science, environmental technology and biotechnology.”

Mr Bradford said he welcomed the Korean Commerce Ministry’s intention of sending a science survey mission to New Zealand next year.

“I hope this will broaden Korean interest in working with New Zealand companies.”

The New Zealand and Korean Governments also released a Joint Statement on E-commerce today.

Mr Bradford said e-commerce was essential in the global marketplace.
“This Joint Statement aims to help establish a framework for e-commerce between Korea and New Zealand and it points to new avenues for bilateral trade in the future.

“Mr Chung also talked to me about Korea’s increased emphasis on small and medium-sized enterprises (SMEs), the importance of SMEs in both countries forging closer links and Korea’s welcome moves to liberalise its foreign investment regime,” Mr Bradford said.

Following his meeting with Minister Chung, Mr Bradford led a presentation on New Zealand science to a high-powered business delegation accompanying the Korean President, Kim Dae-jung.

“The Joint Statements announced today, illustrate the desire of both countries to raise the profile of the hi-tech non-traditional markets in order to thrive in the knowledge age.

“I look forward to seeing more interest among Korean firms in working with our country in the science sector, and vice versa,” Mr Bradford said.

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