THE India-New Zealand Free Trade Agreement is likely to come into force within the next month, said New Zealand Trade and Investment Minister Todd McClay, as the two countries work on exchanging official notes to begin the process of implementing the pact.
In an interview with ANI, McClay said the agreement, which has cleared the New Zealand Parliament, would provide Indian exporters with duty-free access to the New Zealand market from the first day of implementation.
The New Zealand Parliament approved the implementing legislation on 15 September, with the official parliamentary record showing 93 votes in favour and 29 against. Royal assent was granted on 17 September.
McClay said the agreement would create “a significant opportunity” for Indian exporters, with New Zealand committing to bring tariffs on Indian goods to zero from day one, subject to the agreement’s provisions.“I think you will see a lot more trade in chemicals and pharmaceuticals, but also in machinery,” he said.
ANI
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