New Zealand PM calls FTA with India landmark deal for jobs, exports and growth

In a social media post on Tuesday, Prime Minister Christopher Luxon said New Zealand has now concluded a free trade agreement with India, describing it as a major step in strengthening ties with the world's largest country and the world's fastest-growing big economy.

He stated, "New Zealand has now concluded a free trade agreement with India. This is a landmark deal with the world's largest country and the world's fastest-growing big economy that will create opportunities for jobs, exports, and growth for all"

Emphasising the importance of the relationship, Prime Minister Luxon noted that from day one, the government has worked hard to prioritise and invest in its engagement with India.

PM Luxon also shared that engagement between the two countries has been intensive, reflecting the government's focus on building a strong and trusted partnership.

Prime Minister Luxon said these sustained efforts have resulted in a high-quality trade agreement with a trusted partner, which is expected to deliver deep and lasting benefits for New Zealand.

On December 22, India and New Zealand concluded a comprehensive, balanced and forward-looking Free Trade Agreement (FTA), marking a major economic and strategic milestone in India's engagement with the Indo-Pacific region.

The FTA stands out as one of India's fastest-concluded FTAs aligned with the national vision of Viksit Bharat 2047. The negotiations were formally launched on March 16, 2025, during the meeting between Minister of Commerce and Industry Piyush Goyal and Minister for Trade and Investment of New Zealand Todd McClay.

The agreement was concluded by holding continuous and intense discussions spread over five formal negotiation rounds, several in-person and virtual intersessions.

The FTA establishes a high-quality economic partnership that promotes employment, facilitates skill mobility, drives trade and investment-led growth, fosters innovation for agricultural productivity, and enhances MSME participation to strengthen long-term economic resilience.

The FTA eliminates tariffs on 100 per cent of its tariff lines, providing duty-free access for all Indian exports. This market access enhances the competitiveness of India's labour-intensive sectors, including textiles, apparel, leather, footwear, marine products, gems and jewellery, handicrafts, engineering goods and automobiles, directly supporting Indian workers, artisans, women, youth and MSMEs and integrating them deeper into global value chains, according to the commerce ministry. (ANI)