57% of New Zealands Exports to India to Become Tariff-Free, Announces PM Luxon Ahead of Modis Visit

New Zealand To Eliminate Tariffs on 57% of Exports to India Ahead of Modis Visit

In a significant development for trade relations between New Zealand and India, Prime Minister Christopher Luxon announced on Monday that 57% of New Zealands exports to India will be tariff-free from the outset of a newly inked trade agreement. This announcement coincides with Indian Prime Minister Narendra Modis upcoming visit to New Zealand, marking the latters first official trip in 40 years.

“This agreement represents a monumental step towards deepening our bilateral ties and facilitating a smoother trade environment between our two nations,” said Luxon during a press conference. He emphasized the respect and positive sentiment towards Indian communities in New Zealand, indicating strong support for continued immigration and trade relations.

The proposed Free Trade Agreement (FTA) has been hailed by various stakeholders in New Zealand, including MP Parmjeet Kaur Parmar, who described it as a “historic achievement.” This FTA is set to enhance economic collaboration, with both countries benefiting from reduced trade barriers and increased market access.

As part of the FTA, items such as dairy products, wines, and technological services are expected to see the most significant changes. New Zealand exports a variety of goods to India, including agricultural products and consumer goods, while also receiving IT services and textiles in return.

The meeting between Prime Ministers Luxon and Modi is anticipated to focus on further strengthening diplomatic and economic ties beyond the trade agreement, addressing areas such as education, tourism, and climate change initiatives.

This landmark agreement is viewed as a pivotal moment for strengthening not only economic ties but also cultural and social connections between the two countries.