S. Korea, New Zealand open 3rd round of free trade talks

SEOUL, Dec. 14 (Yonhap) -- Trade officials from South Korea and New Zealand
kicked off their third round of negotiations here Monday aimed at forging a free
trade agreement (FTA) to boost the flow of goods and investment between the two
countries.
During their talks, set to run through Friday, the two sides will discuss a
variety of issues such as tariff concessions, according to Seoul's trade
ministry.
Kim Hae-yong, chief of the FTA negotiations bureau at the Ministry of Foreign
Affairs and Trade, led the South Korean delegation, while Alison Mann, chief
negotiator for Korea FTA, represented New Zealand.
Trade between the two countries reached U$1.95 billion in 2008, making New
Zealand South Korea's 48th-largest trading partner.
South Korea exported goods worth $825 million last year to the island nation, and
imported $1.12 billion worth of goods, according to government data.
South Korea has free trade agreements with Chile, Singapore and the European Free
Trade Association, as well as a similar pact with the Association of Southeast
Asian Nations.
South Korea initialed a free trade accord with the European Union in October. The
country also wrapped up a free trade deal with the United States in June 2007,
though the agreement still awaits legislative approval from both countries.
South Korea is also seeking similar trade deals with Australia, Canada and Mexico.
sam@yna.co.kr
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