Media Release - 25 June 2025 The New Zealand International Business Forum (NZIBF) is pleased to announce the appointment of Felicity Roxburgh as its...
Tariff (Free Trade Agreement between New Zealand and The Republic of Korea) Amendment Bill Statement to the Foreign Affairs, Defence and Trade Select Committee

Mr Chairman, Honourable members.
Thank you for the opportunity to speak to our submission. I do so on behalf of the business leaders who make up the membership of the NZ International Business Forum. The organisations they represent are among New Zealand’s largest internationally oriented businesses and peak business associations.
This is a fairly straightforward piece of legislation, which we encourage Members to support. The Bill provides for implementation of the New Zealand tariff concessions to Korea in the context of the FTA and makes possible the much more significant concessions which Korea will implement in respect of New Zealand.
Our earlier submission on the FTA set out the rationale for this agreement which provides a pathway to tariff elimination for a number of key products for New Zealand in the Korean market including most dairy products, beef and kiwifruit and immediate tariff elimination on wine.
The value of the FTA is highlighted by the fact that New Zealand exporters to Korea currently pay $195 million in tariffs whereas Korean exporters to New Zealand pay $5 million.
The relatively low level of New Zealand tariffs on Korean products also indicates why the domestic adjustment arising from the implementation of the concessions provided for in the draft bill will be minimal.
As we also said in our earlier submission, the FTA is far from perfect but it does address the competitive position for New Zealand products in Korea in the medium term.
Mr Chairman, Honourable Members
This Bill is not about other aspects of the FTA, some of which, as we have seen in your report back to Parliament, pose difficulties for some Members.
In the interests of securing the future of New Zealand’s exports to Korea the NZ International Business Forum urges allMembers to support the Bill now before you.
Stephen Jacobi, Executive Director, NZIBF
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
Felicity Roxburgh Appointed Executive Director of the New Zealand International Business Forum
Media Release - 25 June 2025 The New Zealand International Business Forum (NZIBF) is pleased to announce the appointment of Felicity Roxburgh as its new Executive Director. She will officially take up the role on 7 July 2025. Felicity brings nearly two decades of...
EXECUTIVE LEADERSHIP CHANGE AT NZ INTERNATIONAL BUSINESS FORUM
Media release, 4 June 2025 Long-time trade advocate Stephen Jacobi will retire from the New Zealand International Business Forum (NZIBF) on 30 June 2025. “Stephen has made a major contribution to New Zealand’s economy and our trade interests through his articulate,...
ADDRESS TO THE 56TH ONE STOP UPDATE FOR THE ACCOUNTANT IN BUSINESS
CHRISTCHURCH AND AUCKLAND, MAY 2025 STEPHEN JACOBI, EXECUTIVE DIRECTOR GLOBAL MACRO-ECONOMIC AND TRADE UPDATE My thanks as always to Brightstar for the invitation to be with you today. As some of you will know I have been a serial attender at these events, normally...
2025 APEC Ministers Responsible for Trade Joint Statement
Jeju, Republic of Korea | 16 May 2025 Read the original post here 1.We, the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT), met in Jeju, Republic of Korea, from 15-16 May 2025, under the chairmanship of H.E. Inkyo Cheong, Minister of...
REMARKS TO LOCAL GOVERNMENT NZ RURAL AND PROVINCIAL SECTOR MEETING
2 MAY 2025 STEPHEN JACOBI, EXECUTIVE DIRECTOR IMPACT OF TRADE WARS ON NZ My thanks to Local Government NZ for the invitation to be with you today. As a resident of Napier I am all the more pleased to contribute to this rural and provincial sector meeting. Whether you...
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...
0 Comments