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14th Korea-New Zealand Joint Economic Committee Meeting

Date : 2019-05-02 17:34:55

1. The Ministry of Foreign Affairs held the 14th meeting of the Korea-New Zealand Joint Economic Committee in Seoul on May 2. In the meeting, the two sides reviewed the progress in bilateral economic cooperation in a range of areas, including trade and investment, and discussed ways to continue to increase cooperation between the two countries.

  • The Republic of Korea and New Zealand delegations to the meeting were led by Deputy Minister for Economic Affairs Yun Kang-hyeon and Deputy Secretary of the Americas and Asia Group Ben King of the Ministry of Foreign Affairs and Trade of New Zealand, respectively.

2. In the meeting, the two sides took note of the continued increase in trade and investment between the two countries since the ROK-New Zealand FTA entered into force in December 2015, and reviewed the progress in implementing key follow-up measures to President Moon Jae-in’s state visit to New Zealand in December last year.

  • The two sides also spoke highly of the bilateral trade relations that are growing in a mutually-beneficial and balanced manner, and agreed to make efforts to further expand the volume of trade between the two countries.
  • In addition, the two sides reviewed the accomplishments attained so far in substantive cooperation in various areas, including agriculture and fisheries, science and technology, education, film and Antarctic affairs, and agreed to explore ways to step up cooperation in the areas.
  • They especially noted the robust cooperation underway between the Korea Polar Research Institute, which conducts research in Antarctica, and Antarctica New Zealand regarding the operation of the Antarctic Jang Bogo Station and the ice-breaking research vessel Araon, and discussed how the two countries can expand cooperation in Antarctica.

3. Furthermore, in the meeting, the two sides shared the view that both of their economic policies are focusing on inclusive growth, and exchanged views and discussed ways to work together on regional trade cooperation, including the Asia-Pacific Economic Cooperation (APEC) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as well as on global issues, including the World Trade Organization (WTO), the G20, climate change and Brexit.

4. They also discussed ways to link the ROK’s New Southern Policy with New Zealand’s Pacific Reset policy, which the country is pursuing to strengthen cooperation with Pacific Island countries.

5. In addition, the two sides condemned the shooting attacks that occurred in Christchurch, New Zealand, on March 15, and agreed to actively work together on the global stage to eradicate terrorism.

* unofficial translation

From the Korean Ministry of Foreign Affairs Newsletter of 8 May 2019:-