A ROK-NZ FTA: cementing a closer economic relationship 10 June 2009 The Lucky 7 strategic reasons 2 1. Now is not the time to become insular 3 2. FTA creates momentum for integration From this. to this? 4 3. Avoid penalising good friends FTAs signed by New Zealand Australia Thailand Singapore/Chile/Brunei China Aus-NZ-ASEAN Malaysia To be negotiated GCC Korea India TransPac (incl. US) Hong Kong FTAAP FTAs signed/being negotiated by ROK US, Chile, ASEAN Australia, EU, Canada, India, Peru 5 4. Agriculture: no threat; just opportunities 6 5. Regional production networks can be enhanced 7 6. The weightless economy: services and investment are essential parts of a modern trading relationship 8 7. Climate change: shared interests 9 Summary The economic modelling numbers show that there are significant benefits to both countries from an FTA These broader strategic reasons show that deepening the relationship between Korea and New Zealand makes a lot of sense