Council News & Events
Upcoming Events
10 February, A Social Dinner for Council Members at a Korean Restaurant in Auckland, 6pm – details to be advised to members
Past Events
30th Anniversary Dinner at Romfords in Auckland, 19 November
General View
Korean Young Persons Percussion Band Playing During the Dinner
Business After Five Function at Hyundai Winger in Auckland, 24 September
General View of Networking Following the Presentation
Joint Statement from the 25th Joint Meeting of the KNZBC and its Korean Counterpart
The 25th Joint Meeting of the Korea-New Zealand and New Zealand-Korea Business Councils
3 March 2009
Joint Statement
The 25th Joint Meeting of the Korea-New Zealand Business Council (KNZBC) and the New Zealand-Korea Business Council (NZKBC) was held in Auckland on 3 March 2009.
The joint meeting was attended by over 100 business representatives from a wide range of sectors in the two countries.
The two Councils were greatly honoured that the President of the Republic of Korea, His Excellency Mr Lee Myung-bak gave the concluding address to the meeting. His overview of the strong and long-standing relationship between Korea and New Zealand, recent developments in trade and technical cooperation, and the potential for new business opportunities, was considered encouraging. In particular the business men and women of the two countries welcomed his announcement that the governments of Korea and New Zealand had agreed to enter into negotiations forthwith with a view to concluding a free trade arrangement between the two countries as early as possible.
Those attending recognised the impetus that the President’s visit to New Zealand, the second such visit within the past three years, would give to the further development of the business relationship between the two countries. The visit was a further reinforcement of the Partnership for the 21st Century adopted between the two countries in December 2006 ( at the time of the previous Presidential visit to New Zealand ) as a framework for moving the relationship forward in all areas.
Prior to the President’s address the meeting heard presentations on the Korean side from Dr Chae Wook, President of the Korean Institute for International Economic Policy, and from Dr Choi Mun-kee, President of the Environmental and Telecommunications Research Institute. From the New Zealand side there were presentations by Robert Stevens, CEO, Education New Zealand, Michael Stephens, Acting Chair of the NZ Institute for Screen Innovation and Phil Shepherd, CEO, Harmonic Ltd. The two Councils especially welcomed an address by the Hon. Steven Joyce, Minister of Transport, Minister of Information Technology and Associate Minister of Infrastructure.
The meeting was pleased to learn that as a further sign of the growing inter-connectivity between the two economies, a Memorandum of Understanding between ETRI (The Electronics and Telecommunications Research Institute), the Daesung Group and the NZISI ( the New Zealand Institute for Screen Innovation) was to be signed immediately following the Joint Meeting. A further welcome development was the announcement that trials of ultra-fast Korean broadband technologies are soon to be undertaken in New Zealand.
The meeting was pleased to be informed that the high-level business grouping, the New Zealand International Business Forum, was planning a high-level business roundtable in Korea in the middle of the year. It considered this would be a suitable next step in the trading relationship, and would provide a further opportunity for New Zealand businesses to strengthen contacts with peak Korean business organizations and persons. Delegates were also pleased to be informed about New Zealand’s cultural diplomacy initiative programme to take place early in Seoul April.
Delegates were keenly aware however that the meeting was taking place at a time of drastic change in the world’s economic environment, and of challenging problems for the two economies. However they clearly recognized that enhanced trading links and opportunities had to be seen as an imperative for the two countries to help them recover from the current difficult period.
The delegates of the two countries noted that two-way merchandise trade between Korea and New Zealand reached NZ $ 2.6 billion in 2008, an increase of 5.8% over the previous year. In addition there is substantial trade in services, particularly in education services and tourism. It was noted that given the economic potential and the complementary economic structures of Korea and New Zealand, there was room for further expansion of bilateral trade between the two countries in terms of quantity and quality as well, especially if the governments can reach early agreement on a comprehensive Free Trade Agreement. It was felt that there was great potential for businesses of the two countries to collaborate in research and development aimed at mutually beneficial developments in third markets.
In this context the meeting wished to see investment flows between the two countries encouraged in all sectors, so that investment might match the substantial level of activity in other areas of the economic and trading relationship. The meeting therefore urged the two governments to look actively at ways to encourage increased investment, and take advantage of the complementary industrial structures of the two countries especially in high-tech and knowledge-based industries, and in light of the developments in science and technology exchanges between the two countries. The meeting agreed that both Councils would encourage their members to continue to explore ways to develop new and existing investment opportunities.
It was agreed that the next joint meeting would be held in Korea in 2010 at a mutually convenient time.
Dr Richard Worth OBE MP
Chairman
Korea-New Zealand Business Council
Mr. Lee, Kum-ki
Chairman
New Zealand–Korea Business Council
