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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: South Korea, New Zealand to negotiate trade deal AP - 2 hours 11 minutes ago WELLINGTON, New Zealand - New Zealand and South Korea agreed Tuesday to begin negotiations toward a bilateral free trade agreement as soon as possible. ADVERTISEMENT The decision follows talks between Prime Minister John Key and South Korea's President Lee Myung-bak in the northern New Zealand city of Auckland. In a joint statement after their meeting, the leaders said the "complementary economic structure" of the two nations provided opportunities to increase trade and investment. Two-way trade between New Zealand and South Korea is worth over NZ$2.4 billion ($1.2 billion) a year. South Korea is New Zealand's sixth biggest export market. The two leaders also agreed their countries should work together on regional responses to the current global financial and economic crisis, and to promote opportunities for closer regional economic integration. They "emphasized the importance of maintaining open markets and the role of ongoing trade liberalization in restoring economic growth," a message similar to that from the Association of Southeast Asian Nations summit in Thailand at the weekend. New Zealand and neighbor Australia signed a free trade agreement with the 10-nation ASEAN grouping in Thailand last Friday. A New Zealand study released in February 2008 said a free trade agreement between it and South Korea could double exports within five years and offered major benefits for both economies. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Free Trade South Korea, New Zealand to negotiate trade dealAP - 2 hours 15 minutes ago SKorea lawmakers endorse US FTA billAFP - Thursday, February 26 Taiwan: No immediate FTA with ChinaAP - Wednesday, February 25 Trade deal would be 'global stimulus': WTO chiefAFP - Wednesday, February 25 Related Articles: Business Reports: Toyota asking for Japan government loanAP - 2 hours 8 minutes ago NEW ISSUE-National Fertlizers selling fertiliser bondsReuters - 2 hours 12 minutes ago Japan Hot Stocks-Davinci, machinery, Suzuki, Point, dept storesReuters - 2 hours 13 minutes ago South Korea, New Zealand to negotiate trade dealAP - 2 hours 15 minutes ago Merafe FY headline EPS rises four-fold, sees tough '09Reuters - 2 hours 15 minutes ago Related Full Coverage Free Trade Free Trade All Full Coverage Most Popular – Business Viewed US insurer AIG reports $61.7 bln loss in Q4 Prada and Cavalli give Milan the boot Stress, suicide: tough wounds for the US Army Guinea-Bissau's president 'assassinated' Supermodel Bundchen ties knot with football star Brady View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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