India-New Zealand Free Trade Agreement Marks New Era in Bilateral Relations
India-New Zealand FTA a 'historic milestone,' says PM Christopher Luxon
Asianet Newsable
Image: Asianet Newsable
New Zealand Prime Minister Christopher Luxon hailed the recently signed Free Trade Agreement (FTA) with India as a 'historic milestone.' The agreement, signed in New Delhi, commits New Zealand to invest approximately $20 billion USD in India over the next 15 years, enhancing trade opportunities for both nations.
- 01The India-New Zealand FTA is described as a 'historic milestone' by PM Christopher Luxon.
- 02New Zealand commits to investing approximately $20 billion USD in India over 15 years.
- 03The agreement allows Indian exporters tariff-free access to the New Zealand market from day one.
- 04It aims to boost economic engagement and collaboration in agri-tech and food production.
- 05The Indian diaspora in New Zealand is recognized as a vital link between the two countries.
Advertisement
In-Article Ad
New Zealand Prime Minister Christopher Luxon has characterized the newly signed Free Trade Agreement (FTA) with India as a 'historic milestone' that extends beyond economic cooperation. Signed at Bharat Mandapam in New Delhi, the FTA was the result of negotiations initiated just 13 months ago during Luxon's visit to India. The agreement involves a commitment from New Zealand to invest approximately $20 billion USD in India over the next 15 years, reflecting confidence in India's economic growth. The FTA provides Indian exporters with immediate tariff-free access to the New Zealand market and enhances India's access to high-quality agricultural products. Luxon emphasized the strategic significance of the agreement amid global uncertainties and highlighted the role of the Indian diaspora in strengthening bilateral ties. He expressed optimism for a future of deeper engagement between India and New Zealand.
Advertisement
In-Article Ad
The FTA is expected to create new trade opportunities for Indian exporters and improve access to quality agricultural products for consumers, stimulating economic growth in both countries.
Advertisement
In-Article Ad
Reader Poll
Do you think the India-New Zealand FTA will benefit both countries?
Connecting to poll...
Read the original article
Visit the source for the complete story.