N.Z. sells more to S. Korea

Press, 27 March 1979, Page 15

N.Z. sells more to S. Korea

NZPA Seoul None of New Zealand’s exports to South Korea dropped last year and most showed strong increases in value when the Seoul Government began liberalising its import policies. Mutton sales almost doubled in value to SUSI7M while Korean purchases of tallow rose from 58.36 M io $12.80M. These two items accounted for about 37 per cent of New Zealand’s export returns from its new trading partner but

several otner commodities showed comparatively small out spectacular advances. Sales of hides nearly trebled in value to 58.75 M and log sales were up about S3M to 87.48 M. Livestock exports were worth nearly SSM alter fetching only $5'10,000 a year earlier. Beef sales brought in 84.32 M after fetching $150,000 in the previous 12 months.. Returns from wool sales rose from $5.38M to S7M and waste paper and pulp sales leapt from $440,000 to nearly S4M.

Formerly negligible aluminium and ironsand exports became significant during 19/8, sales of aluminium reaching almost S4M in value and of ironsand about $3.2M. Casein and Caseinate exports accounted for $1.66M of the SBOM total trade. These exports were up nearly $700,000 in value while furskin sales showed an increase from $420,000 to SI.6M. New items to appear on the sales list last year included phosphates, wire rod and malt. The main items New 1-

Zealand bought last year from Korea were woven fabrics (worth $4.2M), fertiliser (S2.BM), sacks and packs (SI.7M), railway rolling stock ($1.68M) and fishing boats ($1.42M). Korean Government officials said that they intend to press in trade negotiations in April to have New Zealand buy more of Korea’s heavy industrial products, including rolling stock, communications equipment, boats and steel. —