April 2025 Introduction This submission is being made on behalf of the New Zealand International Business Forum (NZIBF), whose members are listed at...
Korea FTA done, now on to TPP

The signing of New Zealand’s FTA with Korea is another “brick in the wall” for New Zealand’s FTA coverage in Asia. Now only Japan and India are missing. But that analogy is not quite right – FTAs are meant to break down walls aren’t they? The agreement with Korea largely does this over time but the end result is not as ambitious as other FTAs we have signed. That’s because our Korean friends proved extremely reluctant to open their market completely. They accepted however that they needed to ensure that New Zealand was not disadvantaged in the Korean market compared to competitors like Australia and Chile who have already secured FTAs. That means that the deal gets a pass mark in terms of major exports beef and kiwifruit and dairy (including milk powder, where a small tariff rate quota was granted). Some useful new access was achieved in wine, mussels, salmon and squash. Even so the deal disappointed in a few areas (two lines of processed wood, frozen deer velvet, squid and some horticulture products). Hopefully we will have another crack at Korean protectionism when Korea seeks to join TPP – that’s if TPP can be concluded satisfactorily. From Washington this week Minister Groser was reported as warning that the stand-off in Congress over Trade Promotion Authority (TPA) risked turning TPP into another Doha. In an interview with Inside US Trade he said that the US, Japan and Canada had so far not made “serious offers” to New Zealand on dairy products and this also risked slowing down the process. TPP has been from the beginning promoted as an “ambitious, high quality and comprehensive” deal. It’s good to see the Minister calling others to account on this. The Korea FTA meets expectations in terms of leveling the playing field in Korea and not creating unhelpful precedents in advance of TPP. As such Minister Groser and his officials deserve congratulations for another step forward in creating a more favourable environment for business in the Asia Pacific region.
This post was written by Stephen Jacobi, Executive Director of the NZ International Business Forum www.nzibf.co.nz
REGISTER WITH TRADE WORKS
Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.
Latest News
SUBMISSION TO THE MINISTRY OF FOREIGN AFFAIRS AND TRADE ON A COMPREHENSIVE FREE TRADE AGREEMENT WITH INDIA
April 2025 Introduction This submission is being made on behalf of the New Zealand International Business Forum (NZIBF), whose members are listed at Annex A[1]. NZIBF is a group of senior business leaders working together to promote New Zealand’s engagement in the...
LAMENTATION DAY
When President Trump spoke in the White House Rose Garden to launch his wrecking-ball “fair and reciprocal tariffs”, there were some in the audience wearing hard hats. While this was doubtless to show support for the move amongst hard-working Americans, maybe...
BUSINESS FORUM DEEPLY DISAPPOINTED WITH UNJUSTIFIED US TARIFFS
Media release, 4 April 2025 The New Zealand International Business Forum (NZIBF) has reacted with deep disappointment to the news that the United States will implement an additional 10 percent ad valorem tariff on New Zealand exports. “The United States is a close and...
Bull in a China Shop: Market Price Support in the Dairy Industry
Market price support policies (aka as “subsidies”) in the agriculture sector are a classic example of what is meant by 'beggar thy neighbour'. One country attempts to improve its own economic situation by intervening in the market on behalf of its producers, at the...
BUSINESS FORUM WELCOMES INDIA FTA NEGOTIATIONS
Media release, 17 March 2025 The NZ International Business Forum (NZIBF) welcomes the launch of free trade negotiations with India, announced in Delhi, and is particularly pleased that these will proceed on a comprehensive basis. “There is enormous value to be gained...
Playing the long trade game with India
Prime Minister Luxon is at last making his visit to India with a large business and community delegation. We wish them well in expanding and deepening the relationship with India. The reasons for doing so we have explained previously. Our Government’s...
SUBMISSION TO THE MINISTRY OF FOREIGN AFFAIRS AND TRADE
PROPOSED GREEN ECONOMY JOINT WORKING GROUP WITH CHILE AND SINGAPORE MARCH 2025 Introduction This submission is made on behalf of the New Zealand International Business Forum (NZIBF), whose members are listed at Annex A[1]. NZIBF is a forum of senior business leaders...
PRESENTATION TO APEC BUSINESS ADVISORY COUNCIL: ADDRESSING PROTECTIONISM AND NON TARIFF BARRIERS
BRISBANE, 24 FEBRUARY 2025 STEPHEN JACOBI, EXECUTIVE DIRECTOR, NZIBF My thanks to Anna Curzon and Stephanie Honey for giving me one last opportunity to speak to ABAC. I want to talk today about rising protectionism and proliferating non tariff barriers. It’s not a new...
Business Leaders Sound Alarm on Global Economic Uncertainty: Call for Unified APEC Action
Brisbane, Australia, 25 February 2025 - Among rising global economic tension, the APEC Business Advisory Council met in Brisbane this week to reaffirm its support for the value of trade and cooperation, and the original APEC commitment to free, fair, open and...
REMARKS TO FOREIGN AFFAIRS, DEFENCE AND TRADE COMMITTEE – 20 FEBRUARY 2025
RATIFICATION OF NEW ZEALAND-UAE COMPREHENSIVE ECONOMIC PARTNERSHIP AGREEMENT (CEPA) STEPHEN JACOBI, EXECUTIVE DIRECTOR, NZIBF Thank you Chair for the opportunity to appear before the Committee today. I do so on behalf of the members of the NZ International Business...
Submission by ExportNZ and TradeWorks to the Health Select Committee on the Gene Technology Bill
17th February 2025 Our Recommendations ExportNZ and the New Zealand International Business Forum (NZIBF) support the Government’s overall intention to modernise New Zealand’s gene technology regulations. We support the establishment of a risk-based regulatory regime...
SUBMISSION TO THE FOREIGN AFFAIRS, DEFENCE AND TRADE SELECT COMMITTEE
RATIFICATION OF NEW ZEALAND-UAE COMPREHENSIVE ECONOMIC PARTNERSHIP AGREEMENT (CEPA) FEBRUARY 2025 This submission is made on behalf of the New Zealand International Business Forum (NZIBF) and ExportNZ[1]. NZIBF is a forum of senior business leaders working together...
SOUTHERN LINK REVISITED SEMINAR, SEPT 2024
On 24 September 2024 a stakeholders seminar was held in Auckland to reassess the Southern Link concept, five years after a large conference kickstarted focused discussion of the idea (before Covid intervened). This report of the seminar discussions...
T Day has come
STOP PRESS – NOT SO FAST. This post deals with the tariffs President Trump announced on 1 February he would impose on Canada, Mexico and China. By 4 February he announced imposition of tariffs on Canada and Mexico would be suspended for 30 days (until 5 March). ...
Back to the future?
The end of 2024 has trade advocates reaching back to their 2016 taking points as an Administration of a depressingly protectionist hue prepares to take office in the United States, once the global champion for trade liberalisation. We do not know for now what,...
0 Comments