New Zealand Prime Minister Christopher Luxon announces that the historic Free Trade Agreement (FTA) between New Zealand and India officially came into effect on Tuesday (October 20).
New Zealand Prime Minister Christopher Luxon took to X on Monday to announce the implementation of the historic Free Trade Agreement (FTA) between New Zealand and India.
“As of today, our historic Free Trade Agreement with India is in effect," PM Christopher Luxon posted on X.
‘Big day for Kiwi exporters’
Luxon said the deal, reached after working closely with Prime Minister Narendra Modi, will help grow both economies and boost Kiwi communities.
“From today, Kiwi businesses can reach over a billion more customers with significantly reduced tariffs,” the New Zealand Prime Minister said.
“That means it’s easier for Kiwi businesses to sell more, hire more staff, invest in machinery and expand, creating more jobs and higher wages for Kiwis,” he added.
“That’s more money flowing into Kiwi communities. That’s why National has been hustling on the world stage, getting trade deals done,” Luxon said.
In another post on X, Luxon hailed it as a “big day for Kiwi exporters" and said that “our Free Trade Agreement with India is now in force.”
“That means goods leaving here at the Ports of Auckland can reach one of the world’s fastest-growing economies with lower tariffs. More orders, more money flowing back into Kiwi communities, more jobs and higher wages for Kiwis,” Luxon' post read.
What's in for India under the New Zealand FTA?
The agreement opens opportunities across trade, investment, education and employment, including a new pathways for MSMEs, pharmaceuticals, students and skilled professionals.
Under the India–New Zealand FTA, 100% of Indian exports are set to receive duty-free access to New Zealand from the Entry into Force.
The agreement also delivers New Zealand’s best-ever services offer to India and facilitates $20 billion in investment, PIB said.
It added that from textiles and leather to agriculture, pharmaceuticals and MSMEs, the India–New Zealand FTA “strengthens economic cooperation while safeguarding India’s dairy and agricultural interests, creating new opportunities for businesses, farmers, professionals and exporters.”
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