Exploring Possible Upgrade

KNZFTA entered into force in 2015 and has provided a key underpinning for growth in our two-way trade since then.

As likeminded partners, Korea and New Zealand are working together to ensure that KNZFTA continues to benefit both the Korean and New Zealand people and remains fit-for-purpose in light of the evolving international economic landscape.

In the Joint Statement agreed by the leaders of New Zealand and Korea in September 2024, both nations agreed "to explore the possibility of an upgrade of the Agreement, with a view to achieving mutually beneficial outcomes."

Subsequent to the above leaders' commitment, New Zealand and Korea are in dialogue on a potential upgrade and options to modernise and optimise KNZFTA.

A potential upgrade of KNZFTA would maintain the positive growth in our bilateral trade relationship and ensure KNZFTA is better placed to respond to current economic and trade-related environment issues and to further enhance people-to-people connections.