Executive Director Stephen Jacobi read out on the recent Delhi business mission, published earlier by Newsroom.

read more

International Business Forum welcomes Korea FTA negotiation

by | Mar 3, 2009 | Media Releases


The New Zealand International Business Forum (NZIBF) welcomed today’s announcement that Korea and New Zealand will negotiate a comprehensive free trade agreement (FTA).

“Korea is already a major trade partner for New Zealand and an FTA will take the trade and economic relationship to a new level”, said NZIBF Executive Director Stephen Jacobi.

The FTA announcement was made in the context of the visit to Auckland by Korean President Lee Myung-Bak.  Two rounds of exploratory FTA discussions have already been held with Korea and a joint study, completed last November, found that would produce accumulated gains to real GDP over the 2007-2030 period of US$5.9 billion and US$4.5 billion for Korea and New Zealand respectively.

“An FTA with Korea will remove existing trade barriers, expand trade and investment, place New Zealand on a level playing field with competitors in the Korean market and complement  other completed or prospective agreements with China, ASEAN, India and the Trans Pacific Partnership (TPP).

“In addition to improved market access New Zealand would stand to benefit from increased investment and innovation from Korea”

At a meeting of the Korea NZ Business Council in Auckland today NZIBF Chairman Graeme Harrison said that the NZIBF intended to convene a high-level Korea NZ Economic Roundtable to take place in Seoul later this year.

“The Roundtable will focus on the big picture of  the relationship.  It will explore further the value proposition of an expanded relationship for both of us, not just in terms of bilateral business, but in terms of what we can achieve together in the Asia Pacific region and beyond”.

Mr Harrison said that an FTA with Korea would tell the world that Korea and New Zealand are prepared to open their economies at a time when many are tempted to close theirs and that expanding trade and investment is important means of addressing the economic crisis.


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




Latest News


Published by Newsroom on 6 September 2023 Stephen Jacobi reports on the recent business delegation to India. Every country has its contrasts and a subcontinent of 1.4 billion with thousands of years of history has more than most.  Today’s India can reach the...

Large business delegation bound for India

MEDIA RELEASE - Tuesday 22 August, 2023 Fifty business representatives will leave later this week bound for Delhi, making it one of the largest delegations ever to head for India. The delegation, comprising members and senior leaders of five business organisations,...

India and New Zealand: The next innings

As published in the NZ Herald, 18 August 2023 By Stephen Jacobi As a trade mission prepares to depart for Delhi, Stephen Jacobi of the New Zealand International Business Forum considers the prospects for growing two-way trade and investment between India and New...


As published in the NZ Herald, 18 August 2023. By Stephen Jacobi, Executive Director, NZ International Business Forum. Following the Ministers’ meeting in Auckland, what is the outlook for CPTPP as the world’s most ambitious free trade agreement? When Ministers...


The Australia-New Zealand Leadership, the semi-annual gathering of Ministers and business leaders, has been described as a “successful symbol of trans-Tasman togetherness[1]”.  And the togetherness vibe was certainly present when the Forum gathered in Wellington...


This post was published by Hinrich Foundation on 18 July 2023. Following the Ministers’ meeting in Auckland, what is the outlook for CPTPP as the world’s most ambitious free trade agreement ? By Stephen Jacobi When APEC Trade Ministers gathered for their annual...