12. MELISSA LEE (National) Link to this
to the Minister of Customs
What reports has he received on the facilitation of trade between New Zealand and the Republic of Korea?
Hon MAURICE WILLIAMSON (Minister of Customs) Link to this
More good news. The recent signing of a mutual recognition agreement, or MRA, between New Zealand and the Republic of Korea will bring significant benefits to New Zealand exporters. The mutual recognition agreement was signed at a World Customs Organization council meeting in Brussels on the weekend of 25-26 June. I expect that the agreement will become operational on 1 January next year. The Korea mutual recognition agreement is New Zealand Customs Service’s third such agreement; the other two are with the United States and Japan.
What benefits does this agreement give to New Zealand’s Secure Export Scheme exporters to the Republic of Korea?
Hon MAURICE WILLIAMSON Link to this
The mutual recognition agreement allows New Zealand members of the Secure Export Scheme to have their goods processed faster at the Republic of Korea’s border, and they can receive front-of-line priority, which therefore gives them quicker access to the Korean market. In the last year New Zealand exported nearly $1.4 billion worth of goods to Korea by sea. Exports from Secure Export Scheme members made up 37 percent of that figure. The mutual recognition agreement is an important contributor to strengthening trade ties with Korea while our countries negotiate a bilateral free-trade agreement. The Government is looking forward to concluding that agreement at the earliest possible opportunity.