Wellington [New Zealand], April 27 (ANI): New Zealand Prime Minister Christopher Luxon on Monday described the recently signed India-New Zealand Free Trade Agreement (FTA) as a “historic milestone” that goes beyond economic cooperation and carries strategic significance amid global uncertainties.
Luxon noted that it was just 13 months ago he visited India and met Prime Minister Narendra Modi to formally launch negotiations. He praised Union Commerce and Industry Minister Piyush Goyal, New Zealand Trade Minister Todd McClay, and their teams for the rapid progress that produced the deal.
Earlier in the day, India and New Zealand signed the FTA at Bharat Mandapam in New Delhi. The agreement was formally signed by Goyal and McClay in the presence of senior officials, business leaders, and industry stakeholders from both countries.
As part of the pact, New Zealand has committed to investing about USD 20 billion in India over the next 15 years, signalling long-term confidence in India’s growth. Luxon said the agreement is expected to significantly boost economic engagement: it opens New Zealand to one of the world’s most dynamic markets and supports New Zealand’s goal of doubling export value over the next decade by putting its exporters on a more level playing field with competitors already enjoying preferential access to India.
For India, the deal provides tariff-free access to the New Zealand market from day one and improved access to New Zealand’s high-quality agricultural and food products. The FTA also creates opportunities for deeper collaboration in agri-tech and food production, areas where New Zealand has established global expertise.
Luxon emphasized the broader implications, saying the FTA reflects a shared commitment to stable, predictable, rules-based trade at a time of global economic uncertainty. He highlighted that bilateral ties are expanding across trade, investment, defence, innovation, and sports, and praised New Zealand’s Indian diaspora as a “living bridge” between the two countries, contributing across business, science, education, health, the arts, sport, and community life.
Calling the agreement a beginning rather than a conclusion, Luxon expressed optimism about a new phase of deeper and more dynamic India-New Zealand engagement. (ANI)
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