Tag Archives: Korea

Major new FTA to be negotiated

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A new free trade agreement, that could mean a US$500 billion boost to the Asian region’s economy by 2025, is to be negotiated it was announced today.

The New Zealand International Business Forum (NZIBF) has welcomed the announcement that the ten members of ASEAN (the Association of South East Asian Nations) and six other economies including New Zealand, Australia, China, Japan, Korea and India, intend to negotiate the Regional Comprehensive Economic Partnership (RCEP).

“This is a further sign that New Zealand’s home is in Asia” said NZIBF Chairman Sir Graeme Harrison.

“This negotiation will build on New Zealand and Australia’s existing high quality free trade agreement with ASEAN and will bring both the giant North Asian economies and India into the same network.  The initiation of a free trade negotiation with Japan is particularly welcome: Japan is now the only Asian economy with which New Zealand neither has an FTA or a negotiation underway.  A closer trade and economic relationship with Japan is strongly supported by New Zealand business and would be benefit to both countries”.

The RCEP announcement was made at the East Asia Summit meeting in Phnom Penh which is being attended by Prime Minister Key and Trade Minister Groser. The announcement follows several years of preparatory work by officials.

“We congratulate those associated with this initiative which demonstrates new leadership by the ASEAN economies. I can see several years of hard work by negotiators ahead to bring this new agreement into effect. The effort will be worth it: because of its wide coverage RCEP could be even bigger than the Trans Pacific Partnership (TPP) in terms of its contribution to economic welfare.”

Sir Graeme emphasised that TPP and RCEP were mutually reinforcing as potential pathways to a wider Free Trade Area of the Asia Pacific (FTAAP).

“There can be many paths to a broader vision for regional economic integration. New Zealand is fortunate to be directly involved in both major initiatives. TPP is further advanced but both TPP and RCEP are significant and for New Zealand offer the possibility of eliminating barriers and reducing the cost of doing business, building the basis for economic growth and creating jobs”, concluded Sir Graeme.

ASEAN members include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar (Burma), Singapore, Thailand, The Philippines and Viet Nam, which make up collectively the world’s ninth largest economy.

Research by the East West Centre in Honolulu and the Petersen Institute for International Economics in Washington DC suggests that Asian trade liberalisation could be worth $US500 billion to the region’s economy by 2025.

 

Beef and lamb on show in Seoul

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New Zealand beef and lamb were on show in Seoul recently, when New Zealand Trade and Enterprise (NZTE) held the third New Zealand Food Connection at the Seoul Plaza Hotel on 6 November.

The event showcased the best New Zealand food and beverage products to over 170 Korean food and beverage professionals.

Twelve New Zealand food and beverage companies participated in the event. Alongside the beef and lamb were kiwifruit, guacamole, fruit and vegetable puree and powder, honey, beef jerky, juice, energy drink, beer, syrup and Greenshell mussels.

Over 170 trade people attended, including chefs, menu developers and buyers from major hotels, restaurant chains and catering companies, retailers/distributors, food manufacturing companies, journalists and power bloggers in Seoul, its vicinity areas and as far away as Gwangju and Cheongju.

Following Ambassador Patrick Rata’s welcome speech, participants saw a presentation on how to use social media and enjoyed a food tasting session. Many new recipes were discussed and developed jointly by participants and chefs for this event, showing the New Zealand participants how their products can be used in Korea.

Deer industry about to do “hard yards’

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The time for talking is over and the deer industry is about “to do the hard yards”, says Deer Industry New Zealand (DINZ) chairman, Andy Macfarlane.

Writing in the latest Deer Industry News, Macfarlane says the “industry prize of profitability should be enough to keep us focused on the job.”

The goalpost presented at the 2012 conference has been “determined, reviewed and confirmed as $1.27 per kg venison increase in EBIT by 2022″, achieved from productivity gains alone, Macfarlane explains.

“We also believe we can increase venison tonnage by 50 percent in that time, while simultaneously improving the market return from venison, hence adding to that $1.27 per kg.”

The 50 percent increase in tonnage takes venison output back to a little less than 2007 and 2008 levels, he says, but from an organised stable herd rather than from a reduction of capital stock. The Europe venison marketing strategy and formal access into China and Korea for venison co-products and velvet underpin the on-farm market return. Member processors are now putting together their three-year marketing plans for submission to access increased DINZ funds.

In addition, after consultation with farmers, AgResearch scientists, vets, farm management consultants, processors and educationalists, Primary Growth Partnership funding is being sought from government for on-farm productivity initiatives to deliver an integrated initiative “that we are confident will deliver the additional $1.27 per kg of venison sold,” says Macfarlane, adding that by his calculations it should generate additional industry EBIT of $42 million a year.

To show commitment “by purchasing some of our own ‘training gear’”, industry is being asked to contribute 4 cents per kg of venison fro seven years (initially $900,000 a year).

“The cost is temporary but the return – over $30 per $1 of levy money initially invested – is permanent.”

The title of the PGP bid is ‘The next generation – premium by nature and design’, which he says is significant.

“We have a premium product sold in premium markets. Our animals are pasture-fed and raised in a natural environment. We are poised for our third generation of deer products, produced by our third generation of deer farmers.”

The latest Deer Industry News magazine (Issue 56, October/November 2012),  is out now. 

 

 

Lining up for grass-fed beef in Japan and Korea

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Chefs in Japan and Korea have been learning more about New Zealand grass-fed beef from award-winning Christchurch chef Darren Wright.

Beef + Lamb New Zealand (B+LNZ)’s market manager for Japan/Korea, John Hundleby says Wright, who has been in the two countries promoting New Zealand beef to a lineup of influential chefs and media, cooked a range of beef dishes at a number of events. His offerings included beef ravioli made from short-ribs, beef tortellini and tenderloin steaks.

“Since Korean and Japanese people are far more familiar with the cooking qualities of grain-fed beef which is more common in the two markets, a highlight at these events is always the demonstration of how to cook a good grass-fed beef steak.”

Japan and Korea are important markets for New Zealand beef farmers. Japan is New Zealand’s number two beef export market by value, worth NZ$230.7million (season ending 30 September 2011) and Korea is New Zealand’s number three export beef market by value, worth $203.1 million (season ending 30 September 2011).

“Beef + Lamb New Zealand works on behalf of farmers in these markets to introduce consumers to New Zealand grass-fed beef and then to develop a preference for it,” Hundleby says.

“Working with chefs and encouraging them to use our product is an important part of getting more Japanese and Korean people to eat New Zealand beef. Influential media also have a valuable role to play in highlighting the health benefits of grass-fed beef that make it lower in fat and higher in Omega-3s than grain-fed beef.”