South Korea's President park geun-hye and New Zealand prime minister John key announced at a press conference in Brisbane, Australia on Nov.15, the free trade agreement negotiations between the two countries has come to an end. The two governments have been negotiating over 5 years and 5 months since June 2009.
"Free trade agreement will make New Zealand exporters back to other countries signed a free trade agreement with South Korea fair competition status, such as the United States, Chile, and the European Union." New Zealand prime minister John key said in a statement.South Korean industry trade resources said in a statement that the agreement will allow south koreans espeacially students to work in the service sector in New Zealand and to learn from it.
Earlier, South Korea and New Zealand in Seoul held a the eighth round of talks free trade agreement in Seoul, but the two sides failed to open agricultural markets or narrow differences.
South Korea is the sixth largest trading partner of New Zealand, the bilateral trade volume is 4 billion yuan (about $4.2 billion) in New Zealand.