June 09, 2009 11:54
Korea and New Zealand kicked off their week-long first round of free trade negotiations in Seoul Monday. The two sides agreed on basic terms of reference during preliminary talks held in April. This first round of talks is expected to focus on discovering each side’s points of interest.
New Zealand is Korea's number one lumber importing country while meat and dairy products are also popular imported items to Korea. Korea's main exports to the island country are mostly gasoline, automobiles and telecommunication devices.
Currently Korea's 48th largest trading partner, New Zealand can not be described as one of the country's key business partners. However, this also means that there is still plenty of room left for improvement.
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