Free trade with Korea makes sense, says Business Forum

by | Feb 22, 2008 | Media Releases


The New Zealand International Business Forum today welcomed news that an independent study had predicted substantial benefits for both Korea and New Zealand from a future free trade agreement between the two countries.

“A free trade agreement with Korea would make sense on every level”, Executive Director, Stephen Jacobi said today.

“Korea is already a major market for New Zealand with exports including wood, beef, cheese and fresh fruit.  Two way trade is balanced and complementary, scientific cooperation and investment ties are expanding, and there are strong connections through education and tourism.”

Mr Jacobi said Korea was emerging as a leader for trade liberalisation in the Asia Pacific region, having recently signed a significant deal with the United States which is awaiting ratification.

“New Zealand must make sure we are not left behind as regional trade agreements proliferate.  Korea already has several FTAs including one with Chile  and has completed a negotiation with the United States.  An FTA with New Zealand would help ensure a level playing field in the Korean market and complement our other agreements especially with China and the P4 group (Brunei, Chile, Singapore and New Zealand)”.

The International Business Forum, which brings together some of the country’s largest exporters and the major business organisations, considers that New Zealand should aim to position Korea alongside Australia, the United States, Japan, China and the European Union as key economic partners for New Zealand.

“We congratulate the Korean and New Zealand governments for commissioning this study.  We look forward to the early commencement of free trade negotiations”.

About the NZ International Business Forum

The Forum is a business organisation which aims to generate wealth for New Zealanders by helping ensure that New Zealand enterprises are fully integrated and engaged in the global economy and New Zealand’s global competitive position is maximised.  To enable New Zealand business to exploit new opportunities in international markets, the Forum provides leadership, works with companies and other business organisations to implement key projects and articulates New Zealand’s international business priorities to both the New Zealand Government and stakeholders.


Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.

Latest News


Perhaps a cyclone was after all a fitting backdrop for the meeting of the APEC Business Advisory Council (ABAC) which was held in Auckland on 12-14 February – the global environment against which the meeting took place is decidedly stormy.  In the event the wind...


As I write this end of year dispatch, NZIBF is preparing to host the first meeting for 2023 of the APEC Business Advisory Council (ABAC).  We are looking forward to welcoming the 200 or so business leaders and senior officials from APEC member economies across the...

NZ Herald: Time to lift our game in India

Following his recent visit to India our Executive Director Stephen Jacobi penned this article advocating a more strategic approach to the further development of the relationship. The article was published by the NZ Herald on 9 December.

APEC Rolls out Priorities for 2023

Issued by the Informal Senior Officials’ Meeting - Honolulu, The United States, 13 December 2022 Aiming to provide tailwinds for member economies to strengthen recovery and resilience, as well as advance broad-based economic growth, the United States rolled out its...

NZIBF 2022 Chair Report

ANNUAL GENERAL MEETING 2022 CHAIR’S REPORT I am pleased to present my second report on the activities and achievements of the NZ International Business Forum (NZIBF) for 2022-23, our fifteenth year of operations.  At the outset I would like to thank Members for...


New Zealand business will be represented at the APEC Leaders’ Week in Bangkok, commencing 13 November, by members of the APEC Business Advisory Council (ABAC). New Zealand’s three members – Rachel Taulelei, Malcolm Johns and Anna Curzon – supported by Stephen Jacobi...

Submission to MFAT for CPTPP Review

30 September 2022 Phil Mellor Economic Division, Ministry of Foreign Affairs and Trade, Wellington (By email) Dear Phil, Thank you for your email of 1 September, seeking our comments on the three year review of the Comprehensive and Progressive Agreement for Trans...