Thursday, 26 March 2015 14:54

Red meat sector welcomes Korea FTA

Written by 

The free trade agreement with Korea is critical for New Zealand sheep and beef farmers and meet exporters, says Beef + Lamb NZ chairman James Parsons.

 

It keeps us competitive in this key market, says Parsons.

The free trade agreement (FTA) will be a significant step towards reducing the overall amount of tariffs paid on New Zealand red meat exports, says both Parsons and the Meat Industry Association (MIA).

Trade Minister Tim Groser signed this week the New Zealand Korea FTA with his Korean counterpart.

The New Zealand sheep and beef sector is worth $8.5 billion, with close to 90% exported, on which we paid $318 million of tariffs in 2013. A significant proportion of those tariffs were paid in Korea ($52m) – where applied tariffs on our beef exports are 40%.

Korea is New Zealand's fourth-largest beef market by volume, taking nearly $125 million of beef exports last year. However, trade volumes have dropped significantly in recent years, partly due to competitors such as the United States, and more recently Australia and Canada, having a tariff advantage through their FTAs with Korea.

"These negotiations were tough, and credit must go to our government negotiators and to Trade Minister Groser for the excellent job they did in getting this deal done" said MIA chairman Bill Falconer.

B+LNZ and MIA work together to improve access for sheep and beef products to overseas markets, including by providing in-depth analysis in support of the Government's FTA negotiation efforts.

More like this

Getting sheep shape at Pyramid Farm

The vineyards at Pyramid Farm in Marlborough’s Avon Valley have never been run of the mill, with plantings that follow the natural contours of the land, 250 metres above sea level.

Featured

Dr Mike Joy says sorry, escapes censure

Academic Dr Mike Joy and his employer, Victoria University of Wellington have apologised for his comments suggesting that dairy industry CEOs should be hanged for contributing towards nitrate poisoning of waterways.

People-first philosophy pays off

The team meeting at the Culverden Hotel was relaxed and open, despite being in the middle of calving when stress levels are at peak levels, especially in bitterly cold and wet conditions like today.

Farmer anger over Joy's social media post

A comment by outspoken academic Dr Mike Joy suggesting that dairy industry leaders should be hanged for nitrate contamination of drinking/groundwater has enraged farmers.

From Nelson to Dairy Research: Amy Toughey’s Journey

Driven by a lifelong passion for animals, Amy Toughey's journey from juggling three jobs with full-time study to working on cutting-edge dairy research trials shows what happens when hard work meets opportunity - and she's only just getting started.

National

Machinery & Products

» Latest Print Issues Online

The Hound

Faking it

OPINION: Demand for red meat is booming, while it seems the heyday of plant-based protein is well past its 'best…

M.I.A.

OPINION: The previous government spent too much during the Covid-19 pandemic, despite warnings from officials, according to a briefing released…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter