New Zealand lawmakers have officially ratified a free trade agreement with India, securing a 93-29 vote in parliament with backing from the Labour Party. This legislative move aims to eliminate or substantially lower tariffs on approximately 95% of New Zealand's exports to the Indian market. Officials anticipate that over half of the affected goods will be exempt from duties immediately upon the agreement's activation. Trade Minister Todd McClay highlighted the significant advantages for local exporters and expressed confidence that the deal will be fully operational within the current year. Conversely, the arrangement grants Indian products duty-free entry into New Zealand. Additionally, Wellington has committed to a $20 billion investment plan in India spanning the next 15 years to strengthen bilateral economic ties.
Source : Newswire
Photo : Newswire
Aussi couvert par : Hindustan Times
