Korea, NZ to Hold 2nd FTA Talks Next Week

South Korea and New Zealand have agreed to make more efforts on the ongoing bilateral free trade negotiations to produce "tangible results," with the two preparing for their second negotiations next week, Seoul's foreign ministry said Saturday.

The two countries are scheduled to discuss key issues such as tariff concessions, services and investment during the five-day session in Wellington that starts Monday, Yonhap News Agency reported on Saturday.

Trade between the two countries reached $1.95 billion in 2008, with New Zealand being South Korea's 48th-largest trading partner.

South Korea exported goods worth $825 million last year to the island nation, and imported $1.12 billion worth of goods.

Currently, South Korea has free trade agreements with Chile, Singapore and the European Free Trade Association, as well as a similar pact with the Association of Southeast Asian Nations.