India And New Zealand Sign Free Trade Agreement

29 Jan India And New Zealand Sign Free Trade Agreement

India and New Zealand have signed a new Free Trade Agreement (FTA) which will create new opportunities for New Zealand exporters in a market that has previously been difficult to access due to steep import duties.

This FTA will see tariffs eliminated or reduced on 95% of New Zealand’s exports to India, with over 50% becoming tariff-free immediately, rising to over 80% upon full implementation of the agreement.

This agreement will also see India gradually lower its wine import tariffs from the current 150% to either 25% or 50% over the next ten years, depending on the value of the wine. Conversely, India will receive zero-duty market access for all its exports to New Zealand.

The FTA is expected to generate thousands of jobs and billions of dollars in new trade opportunities.

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