Saudi Gazette report RIYADH — Custodian of the Two Holy Mosques King Salman and Prime Minister of New Zealand John Key reviewed bilateral relations, ways of enhancing them in various fields, and the latest developments at regional and international arenas during their talks here on Tuesday. Key is the first New Zealand prime minister to visit the Kingdom. In an interview with Al Arabiya News, Key described his visit as “well and truly overdue.” One important item on Key's agenda will certainly be attempting to push through a Free Trade Agreement (FTA) with the Kingdom. “We are trying to complete the Gulf states-New Zealand Free Trade Agreement. We've really got to the point in 2009 where the deal was largely complete but required ratifications that have taken some time.” Key said other countries had been in a similar situation, such as Singapore which implemented an agreement last year. “Our understanding is we're the next potential country to come out of the blocks and to have a deal completed, so we are hopeful we'll be able to make some progress on that front.” New Zealand-Saudi Arabia trade is worth about $1.2 billion annually, with two-thirds of that being New Zealand imports of chiefly hydrocarbons. Eighty percent of Saudi Arabia's imports from New Zealand comprise the country's well-renowned meat and dairy products. “Saudi is a significant player here in the Gulf, clearly one of the richest of all the nations in the world but also the home of a lot of potentially significant consumers for New Zealand products. We already sell to the wider Gulf region more goods and services than to the United Kingdom, so that gives you a sense of how big the market already is and I think there is a lot more potential,” Key said. A handful of New Zealand businesses operate in Saudi Arabia with the assistance of government, including a Fonterra factory in Dammam which is a big employer in the city. Saudi Arabia sends about 4000 students to New Zealand each year.
