The deepening recession may have sharpened protectionism in Europe (Trade Minister Tim Groser has been working the traps in Davos and Brussels over the EU’s plan to bring back farm subsidies), but it may be having the opposite effect in some parts of Asia. Korea in particular wants to accelerate lowering trade barriers.

In a little publicised round of talks with Foreign Minister Murray McCully, the Republic of Korea’s Foreign Affairs and Trade Minister Yu Myung-Hwan expressed his Govt’s eagerness to press ahead with FTA negotiations with NZ. He indicated Korea wants closer economic and trade relations between the two countries. Earlier a study on the potential of a FTA showed clear benefits to both countries from a trade deal. Fresh developments on ratcheting up the pace of the negotiations will be signalled shortly.

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