“The announcement that formal talks between New Zealand and the Republic of Korea over a Free Trade Agreement (FTA) are to begin shortly represents a shot in the arm for New Zealand’s farmers,” says Don Nicolson, President of Federated Farmers. “On the back of deals with China and ASEAN nations, and with negotiations already underway with the US and India, this is exactly the right medicine for the NZ economy in these uncertain times.
“The two-way trade between the countries reached $US1.9 billion in 2007 so an FTA agreement with this country is of the utmost importance for not only farmers, but also wider New Zealand.
“The economies of the Republic of Korea and New Zealand are among the most complementary of any two trading partners in Asia-Pacific. New Zealand is a world leader in producing food of the highest quality more efficiently than anyone else and our food is in demand in this region,” Mr Nicolson concluded.
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