Zespri forecasts an increase in sales in South Korea

The ratification of the FTA (Free Trade Agreement) , will lead to growth in sales of Zespri in South Korea.

The New Zealand Parliament passed a bill last step before ratification of the free trade agreement between the two countries. If formal ratification takes place this year , professionals kiwis should receive very positive changes of the content for their future exports .

The Zespri exports to South Korea generated 22 million NZD customs duties (45% rate ) during the year 2014. After the free trade agreement , the rate would be reduced by 33% and at 0 after the next five years.

For Zespri lower taxes would propose to the Korean consumer prices more competitive and thus sell more. The company expects annual sales growth of over 10 % over the next five years .

source : scoop co nz