9 December 2015: Trade Minister Tim Groser has welcomed today’s announcement that the New Zealand - Korea Free Trade Agreement will enter into force on 20 December 2015.
“I’m very pleased to see this high quality agreement enter into force,” Mr Groser says. “This FTA will help New Zealand exporters grow their business in the world’s thirteenth largest economy".
"Under this FTA, approximately 98 percent of tariffs on New Zealand’s current exports to Korea will be progressively eliminated"
"Approximately $229 million a year is paid in duties on New Zealand exports. Duty savings in the first year alone will be in the vicinity of $65 million."