Trade Agreements Blog

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South Korea and New Zealand are starting their second round of free trade agreement negotiations next week.

The two sides will hold discussions on tariff concessions, services and investment for five days in Wellington, New Zealand starting from Monday. According to the state-run Korea Institute for International Economic Policy, a free trade deal with New Zealand could boost South Korea’s gross domestic product by 0.08 percent annually.

Bilateral trade amount posted 1.95 billion U.S. dollars in 2008,with South Korea exporting goods worth 825 million U.S. dollars and importing 1.12 billion-U.S. dollar worth of goods.

Currently, 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.

Read the complete article at Xinhua.