S. Korea, New Zealand likely to reach agreement on FTA

SEOUL, March 6 (Chinese media) -- South Korea and New Zealand are likely to go

through a smooth negotiation process on free trade agreement (FTA) as there is

little possibility of conflicts over sensitive issues, the Korea Times said

Friday.

Les Edwards, chairman of the New Zealand Chamber of Commerce, told the

Korea Times that the South Korea-New Zealand FTA is a good deal in that the two

economies are complementary to each other.

"We have abundant natural resources, you don't. We're not a strong

manufacturing country, you are," said Edwards.

New Zealand's main industries include wood, meat and dairy, compared with

South Korea's main exports being electronic, cars, and petroleum.

Although there have been discussions on a trade agreement between the

countries for many years, the actual negotiation has not earned much attention

as New Zealand does not stand as one of Korea's top trading partners.

Bilateral trade between the two countries amounted to 1.9 billion U.S.

dollars in 2007, the chairman said, adding that South Korea-New Zealand FTA will

do more than open doors for easier trade, as the two countries cannot afford to

be protectionist due to heavy reliance on exports.

The chairman, who is simultaneously serving as the managing partner of Lee

DDB, an advertising firm, said to expect the bilateral pact to be signed and

ratified by early 2010 at the latest.