New Zealand To Join Us Beef Action Against Korea

New Zealand will join a United States-initiated World Trade Organisation (WTO) dispute consultation with Korea over beef import restrictions, Trade Minister Lockwood Smith announced today.

Korea is due to liberalise its beef market in 2001, when all quantitative restrictions will be removed. But some issues, such as restrictions on retail sales of imported beef, have yet to be resolved.

Dr. Smith said New Zealand, the US and Australia had been engaged in discussions with Korea over its rules for beef imports for some time, without successfully resolving the outstanding issues.

"The US requested WTO dispute consultations on 1 February 1999. Because of our interest in the Korean beef market, New Zealand has decided to join these discussions," said Dr. Smith.

"Korea offers considerable potential for the New Zealand Meat Industry. We have a strong interest in ensuring that our beef producers have fair and unrestricted access to the Korean market.

"We hope that these consultations with Korea will resolve the outstanding issues, without the need for recourse to a panel hearing", said Dr. Smith.

Exports of New Zealand beef to Korea averaged 18,000 tonnes between 1994 and 1997, when exports were valued at $37.99 million. But exports fell considerably last year due to the Asian Economic Crisis. In the year ended June 1998, provisional figures show New Zealand's beef exports to Korea were valued at $21.78 million.