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South Korea and New Zealand agreed on free trade
The Republic of Korea and New Zealand agreed on November 15 to conclude a free trade agreement, negotiations on the preparation of which lasted more than five years.
At a joint news conference following a meeting on the sidelines of the G-XNUMX summit in Brisbane, President Park Geun-hye and New Zealand Prime Minister John Kay said the agreement would help boost bilateral economic cooperation.
"Such a trade pact will lay the foundation for the further expansion and development of bilateral investment and trade," the South Korean leader stressed.
According to John Kay, the free trade agreement with Seoul "will be of mutual benefit."
The official signing of the document will take place at the beginning of 2015.
South Korea is New Zealand's largest trading partner, 41. In turn, New Zealand is the 44-m trading partner of Kazakhstan. At the end of last year, bilateral trade between them amounted to $ 2,8 billion.