New Zealand Parliament Passes India Trade Deal, Cutting Tariffs on Most Exports
Sept 16 (Reuters) - New Zealand's parliament on Wednesday passed legislation to implement a free trade agreement with India, under which tariffs on about 95% of New Zealand exports to India would be eliminated or significantly reduced.
New Zealand's parliament recently approved a free trade agreement with India, eliminating tariffs on about 95% of New Zealand's exports to the country. The legislation passed with a 93-29 vote, receiving support from the opposition Labour Party. More than half of all covered products would become duty-free immediately upon implementation.
Trade Minister Todd McClay emphasized the immediate and significant benefits for exporters, stating that the high-quality agreement is expected to enter into force this year. Under the deal, all Indian goods will be granted duty-free access to New Zealand, while New Zealand will offer duty-free access to all Indian goods. Wellington has also pledged to invest $20 billion in India over the next 15 years.
The trade agreement, which was originally signed in April, will become effective once both nations complete their respective ratification procedures. As of the year to June 2026, two-way trade between the two countries totaled NZ$3.99 billion ($2.29 billion), with India ranking as New Zealand's ninth-largest market for goods and services exports.
Written by urgent.news from The Japan News by The Yomiuri Shimbun's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
