22 Jul 2013

PM concerned about Korean market

5:26 pm on 22 July 2013

Prime Minister John Key says he is worried about New Zealand's position in the Korean market.

John Key.

John Key. Photo: RNZ

Mr Key arrives in the republic on Thursday evening for Korean war commemorations and trade talks.

New Zealand and Korea announced in 2009 they would start negotiations towards a Free Trade Agreement, but talks around tariff removals on agricultural products have been a challenge.

Mr Key says the trade situation with Korea is not improving for New Zealand because Korea has signed FTAs with Europe and the United States.

He says if New Zealand does not successfully conclude the FTA, then its exporters will be at a competitive disadvantage compared with European and American exporters.

Mr Key says he doesn't think the agreement will be finalised on this trip, but hopes to make progress towards the deal.