Post by : Rameen Ariff

New Zealand has finalised a free trade deal with India, according to people familiar with the matter. The agreement comes after months of talks between officials from both countries.

The New Zealand India trade deal was completed after New Zealand’s Trade Minister visited India recently. A formal announcement is expected soon, with top leaders from New Zealand set to speak about the agreement in the capital city.

Making a trade deal with India was one of the main goals of Prime Minister Christopher Luxon after he won the national election in 2023. Soon after taking office, his government restarted trade talks with India.

Discussions between the two countries began in March, after Luxon met Indian Prime Minister Narendra Modi in New Delhi. Since then, officials from both sides have worked to reach common ground.

Earlier efforts to reach such a deal had failed. One major reason was India’s wish to protect its dairy sector from foreign products. India has strong rules on farm imports, which made talks difficult in the past.

In June, a senior New Zealand official had said the talks would not be easy. He explained that India keeps high taxes on farm products, which act as strong barriers. India has also never allowed dairy or apple imports in its earlier trade deals.

Despite these challenges, both sides continued discussions, and the New Zealand India trade deal has now been completed.

At present, trade between the two countries is still small. New Zealand sold goods worth NZ$804 million to India in the year ending September. This made India only the 21st biggest buyer of New Zealand products.

One main aim of the deal is to increase exports from New Zealand to India. But the agreement is not only about goods. It also focuses on services, investment, and stronger ties between the two nations.

The deal may also help create new paths for Indian students and workers to study and work in New Zealand. This is expected to strengthen people-to-people links.

Officials believe the New Zealand India trade deal will open new opportunities for businesses, support jobs, and deepen the long-term partnership between the two countries.

#Business News #World News