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Wine Industry welcomes progress with South Korea Trade Deal
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New Zealand Winegrowers welcomes news that the Tariff Amendment Bill was passed through Parliament on Friday, a big step towards implementing the Free Trade Agreement with South Korea.
Philip Gregan, New Zealand Winegrowers chief executive officer, 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," he said.
The announcement is timely with the upcoming New Zealand Wine Fair being held in Seoul next month. The Wine Fair is part of the New Zealand Festival in Korea, a New Zealand Trade and Enterprise and the Ministry of Foreign Affairs and Trade initiative.
"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," Gregan said.
Wine exports to South Korea were valued at $1.8 million for the June year end 2015, and have increased 46 per cent in the last five years.