New Zealand and South Korea to sign a Free Trade Agreement before 1 Dec 2014FTA.STHKOREA.NZ
- Symbol: FTA.STHKOREA.NZ
- Last Trade Price: $0.4667
- Last Trade Time:
9 Mar 9:56pm
- Today’s Volume: 0
- Average Daily Volume: 1.1
- Today’s Change:
- Start Date: 27 Mar 12
- Close Date: 1 Dec 14
- Status: Active
This contract shall pay $1 if, before 1 December 2014, the Governments of New Zealand and South Korea sign a Free Trade Agreement; otherwise it shall pay $0.
The contract is concerned with when a New Zealand / South Korea Free Trade Agreement (FTA) is signed, not if or when it is later ratified by one or both countries. By way of example, the event in the development of the FTA between New Zealand and China which would have caused an equivalent contract to close at $1 was the signing ceremony in April 2008 reported at http://www.chinadaily.com.cn/china/2008-04/07/content_6594515.htm and not the subsequent ratication processes which, in the case of New Zealand, are described at http://www.chinafta.govt.nz/5-FAQ/index.php#Signature.
The contract is NOT concerned with the quality of any FTA. It is enough for the contract to close at $1 that both governments announce publicly that it is a "free trade agreement," "economic partnership agreement" or some other form of words commonly used in international trade negotiations to denote an FTA.
The contract concerns a bilateral FTA, such as described at http://www.mfat.govt.nz/Trade-and-Economic-Relations/2-Trade-Relationships-and-Agreements/Korea/index.php. Multilateral or regional trade agreements such as those involving WTO, APEC or the Trans Pacific Partnership are not relevant to the contract, even if both New Zealand and South Korea are involved. However, should one or more additional countries join the existing New Zealand / South Korea FTA negotiations, this contract will follow those negotiations.
iPredict's judgment shall be final.
All dates and times are in New Zealand time.
This contract will be closed no later than 3 working days after the Close Date. The Close Date may be extended if the event outcome cannot be determined by that date.