September 12, 2009

S. Korea, New Zealand meet on trade pact

South Korean and New Zealand officials say they'll intensify discussions to produce a free trade agreement between the two nations.

South Korea's Foreign Ministry said a meeting between the two countries' trade officials in Wellington, New Zealand, Friday produced a pledge to work again on such bilateral issues as tariff concessions, services and investment during an upcoming second round of talks aimed at producing a free trade agreement, the South Korean news agency Yonhap reported.

The five-day negotiating session is scheduled to start Monday. Yonhap said New Zealand is Seoul's 48th-largest trading partner at $1.95 billion in 2008.