Wine Industry Welcomes South Korea Trade Deal
New Zealand Winegrowers has warmly welcomed the announcement of the conclusion of the free trade agreement between New
Zealand and the Republic of Korea.
Commenting on the news, NZ Winegrowers CEO Philip Gregan said ‘The negotiators have achieved a great outcome for the
wine industry. Tariff free access into South Korea at the time the agreement comes into force represents a significant
boost to our export ambitions in one of the key Asian markets.’
‘Until this deal our competitive position in South Korea has been really handicapped because a number of our competitors
have enjoyed tariff free access into the market. We saw the negotiations with South Korea as the opportunity to correct
this imbalance. Duty free access under the agreement will level the playing field and will be a sign that the Korean
market is open for business for New Zealand wine exporters’.
‘We would like to congratulate the government and the negotiating team for achieving this very positive outcome for New
Zealand wine. It will provide a very solid base for our future growth in South Korea’ said Mr Gregan.
Wine exports to South Korea are currently valued $2 million for the June year end 2014. Total wine exports are more than
$1.3 billion.
-ENDS-