... said that I would never support National and the National led government if they came up with some good policies that will support most New Zealanders and not just the National-voting elite but I didn't expect a good result on the India/New Zealand free trade agreement so soon.
Well I never!
- From Google search on the internet hence American spelling.
The New Zealand-India Free Trade Agreement (FTA), concluded in December 2025 and set for formal signing in April 2026, eliminates tariffs on 95% of NZ exports to India. This "game-changer" deal provides immediate duty-free access for over 50% of goods—including lamb, wool, and forestry—rising to 82% over time, while opening a 1.4-billion-customer market.
Key Aspects of the India-NZ FTA (as of April 2026): Tariff Elimination: Over 95% of New Zealand's current exports to India will get preferential access, with 57% of exports becoming duty-free immediately.
Key Sectors Benefited: Immediate duty-free access for lamb, wool, coal, and most forestry products.
High-Value Goods: Substantial access for kiwifruit (quota four times current exports) and apples, with tariffs on wine, manuka honey, and some dairy reduced or eliminated over time.
Customs Modernization: The deal aims to streamline processes, including a commitment for India Customs to release goods within 48 hours (24 hours for perishables).
Implementation & Support: The deal faced political debate in New Zealand, particularly around immigration, but secured support for passage in April 2026.
The agreement is designed to diversify New Zealand's export markets and deepen economic ties with India, which is projected to become the world's third-largest economy.
Labour is promising to support the deal but warns that exporters could have their market access revoked if New Zealand can’t fulfil a $33 billion investment commitment which is a big ask.
NZ First of course voiced concern about the agreement's impact on immigration along with investment clause while describing the deal as a “disgraceful sellout of the country’s future”. Peters being Peters of course underscored by his foolish deputy Jones who couldn't help himself from making 'curry-muncher' jokes. What an idiot.
When I was working in the wine industry I had a few meetings with Indian importers after researching the market, and all endeavours to get any reasonable volumes of New Zealand wine into India with its rapidly expanding middle class consumer market were kiboshed by the massive import tariffs on NZ wine which would have made a simple sauvignon blanc as costly as a chateau-bottled French wine.
Trade with India is a priority for New Zealand due to its wealth and global trading growth. We need to diversify and to not rely on just a few key trading partners in a changing geopolitical world where an ally today can become an ex tomorrow. New Zealand citizens with Indian heritage and Indian students and visa holders in New Zealand make up a significant percentage of our population and add favourably to our economy, culture and international standing - regardless of the Peter/Jones ill-informed opinions. This Indian community within New Zealand's demographic is a useful connection to our trade with India and the FTA will hopefully bring in some hard earned wealth to the country.
2 comments:
Interesting.
Evil Doctor Richard
The comments are rolling, stepping softly, in.
Post a Comment