{"id":1097,"date":"2025-12-22T22:28:12","date_gmt":"2025-12-22T16:58:12","guid":{"rendered":"https:\/\/newsaxis.com\/?p=1097"},"modified":"2025-12-22T22:28:12","modified_gmt":"2025-12-22T16:58:12","slug":"india-new-zealand-seal-historic-fta-tariffs-on-95-pc-kiwi-goods-reduced","status":"publish","type":"post","link":"https:\/\/newsaxis.com\/?p=1097","title":{"rendered":"India, New Zealand seal historic FTA; tariffs on 95 pc Kiwi goods reduced"},"content":{"rendered":"\n
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New Delhi, New Zealand and\u202fIndia have\u202fconcluded\u202fa\u202fFree Trade\u202fAgreement (FTA),\u202foffering\u202fNew Zealanders\u202funprecedented access to 1.4 billion\u202fIndian\u202fconsumers, Trade and Investment Minister Todd McClay announced on Monday.<\/p>\n\n\n\n

This historic FTA eliminates and reduces tariffs on 95 per cent of New Zealand\u2019s exports — among the highest of any Indian FTA — with almost 57 per cent being duty-free from day one, increasing to 82 per cent when fully implemented, with the remaining 13 per cent subject to sharp tariff cuts.<\/p>\n\n\n\n

It\u202fputs\u202fNew Zealand exporters on\u202fan\u202fequal or better footing\u202fto our\u202fcompetitors\u202facross a range of sectors\u202fand opens\u202fthe door to India\u2019s rapidly expanding middle class, according to an official statement.<\/p>\n\n\n\n

Negotiations began on March 21 and concluded after nine months of intensive effort.<\/p>\n\n\n\n

\u201cThis once-in-a-generation\u202fAgreement creates opportunities New Zealand exporters have never had in India.\u202fThis deal is in New Zealand\u2019s best interest and will deliver thousands of jobs and billions in\u202fadditional\u202fexports,\u201d\u202fMcClay\u202fsaid in a statement.<\/p>\n\n\n\n

\u201cThe Indian economy is forecast to grow to\u202fNZ$12 trillion by 2030.\u202fThe India-NZ\u202fFree\u202fTrade Agreement\u202funleashes\u202fhuge potential\u202ffor our world-class\u202fexporters to\u202fthe world\u2019s largest country\u202fand will\u202fsignificantly\u202faccelerate progress\u202ftowards\u202fNew Zealand\u2019s\u202fambitious\u202fgoal\u202fof doubling the value of exports\u202fover\u202f10 years.\u201d<\/p>\n\n\n\n

Key outcomes\u202ffor New Zealand\u202finclude tariff elimination or reduction on 95 per cent of exports; duty-free access\u202fon\u202falmost 57 per cent\u202fof New Zealand\u2019s exports from day one,\u202fincreasing\u202fto 82\u202fper cent when fully implemented, with the remaining 13 per cent being subject to sharp tariff cuts; immediate tariff elimination on sheep meat, wool, coal and over 95 per cent of forestry\u202fand wood\u202fexports; duty-free access\u202fon most seafood exports, including mussels and salmon, over seven years and duty-free access\u202fon most iron,\u202fsteel\u202fand\u202fscrap aluminium, over 10 years\u202for less, among others.<\/p>\n\n\n\n

\u201cIn a world-first, New Zealand will have duty-free access for a large kiwifruit quota – nearly four times our current exports – with a 50 per cent tariff applying outside quota. For the first time in an FTA, India has agreed preferential market access for apples and manuka honey,” McClay said.<\/p>\n\n\n\n

The FTA has broad services coverage and builds significantly on India\u2019s WTO commitments with a focus on financial services, e-payments and FinTech, and includes an MFN clause to future-proof our services trade.<\/p>\n\n\n\n

\u201cNew Zealand exporters will enjoy duty-free access for dairy and other food ingredients for re-export through the FTA,\u202fopening\u202fthe door\u202fto\u202fgreater collaboration\u202fand processing,\u202fand\u202foffer\u202faccess to India\u2019s\u202fgrowing number of FTA partners\u202fthrough a\u202fdedicated fast-track mechanism,\u201d McClay noted.<\/p>\n\n\n\n

\u201cWe’ve also agreed to review the FTA one year after entry into force, which provides a mechanism to pursue further improvements in the future,\u201d McClay added.<\/p>\n","protected":false},"excerpt":{"rendered":"

New Delhi, New Zealand and\u202fIndia have\u202fconcluded\u202fa\u202fFree Trade\u202fAgreement (FTA),\u202foffering\u202fNew Zealanders\u202funprecedented access to 1.4 billion\u202fIndian\u202fconsumers, Trade and Investment Minister Todd McClay announced on Monday. This historic FTA eliminates and reduces tariffs on […]<\/p>\n","protected":false},"author":2,"featured_media":1098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,2],"tags":[],"class_list":["post-1097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-display","category-national","has_thumb"],"_links":{"self":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/1097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1097"}],"version-history":[{"count":1,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/1097\/revisions"}],"predecessor-version":[{"id":1099,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/1097\/revisions\/1099"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/media\/1098"}],"wp:attachment":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}