World Economy

S. Korea, NZ Agree FTA

S. Korea, NZ Agree FTAS. Korea, NZ Agree FTA

South Korea and New Zealand agreed to a free trade deal Saturday on the sidelines of the G20 summit in Brisbane, ending five years of negotiations, New Zealand Prime Minister John Key said. Key said the free trade agreement (FTA) would help build on two-way trade of NZ$4.0 billion ($3.2b) between Wellington and Seoul, which is New Zealand’s sixth largest trading partner, AFP reported. “The FTA will put New Zealand exporters back on a level playing field with competitors from Korea’s other FTA partners, such as the United States, Chile  and the European Union,” he said in a statement.