The New Zealand wine industry is eyeing up the South Korean market after the passing of the Tariff Amendment Bill in Parliament, which brings a free trade agreement with Korea a step closer.
New Zealand Winegrowers said once the agreement came into force it could mean a significant boost in exports to one of Asia's key markets.
In the year ended June, New Zealand wine exports to South Korea were valued at $1.8 million, an increase of 46 percent in the last five years.
New Zealand Winegrowers Chief Executive Philip Gregan said a New Zealand Wine Fair being held in Seoul next month was very timely.
"Working closely with the various government agencies on the New Zealand event in Korea and wine is part of that and it is a really great opportunity to tell a good New Zealand story.
"I don't believe South Korea is ever going to be a major, major market for New Zealand wine, but I think there is certainly good potential there with seeing growth in other Asian markets as well, so I think it is going to be one of those markets where some exporters in particular will do quite well.
"I can imagine, in the not too distance future, us exporting $20-odd million worth of wine up into South Korea."
