New Zealand Prime Minister Christopher Luxon, a day before Prime Minister Narendra Modi’s scheduled visit to the country, announced that 57% of Wellington’s exports to New Delhi would be “tariff-free from
day one”
New Zealand Prime Minister Christopher Luxon on Thursday took to X to welcome the proposed India-New Zealand trade agreement, saying it would significantly benefit New Zealand businesses by opening up greater access to the Indian market.
“New Zealand businesses are set to boom with our India Trade Deal. 57% of everything we export to India will be tariff-free from day one,” said PM Luxon.
PM Modi To Visit New Zealand From July 10 To 11
New Zealand’s Prime Minister made the announcement ahead of Prime Minister Narendra Modi’s two-day state visit to the country from July 10 to 11. The prime minister had received the invitation from his New Zealand counterpart.
This will be the first state visit by an Indian prime minister to New Zealand in almost four decades.
Also Read: PM Modi To Go On His First Visit To New Zealand Next Week, PM Luxon Says He’s ‘Delighted’ To Host
Announcing PM Modi’s first official visit to New Zealand, Luxon had written on X, “I’m delighted to announce Indian Prime Minister Narendra Modi will make his first official visit to New Zealand next week.”
The prime minister said that India is one of the world’s largest and fastest-growing economies and holds enormous importance to New Zealand’s economic prosperity.
“We are taking the two countries’ relationship to the next level with our New Zealand-India Free Trade Agreement, signed in April, which will deliver more jobs, higher exports and stronger economic growth for New Zealand,” he said.
The New Zealand prime minister said that the deal will unlock new opportunities, provide the country’s goods and services a market of 1.4 billion people, “bringing more money into Kiwi communities, creating jobs and lifting wages.”
India, New Zealand Sign FTA
India and New Zealand signed a Free Trade Agreement (FTA) earlier this year to deepen bilateral trade, boost investment and expand cooperation in goods and services. Under the pact, all Indian exports will enjoy duty-free access to the New Zealand market.
For India, the agreement enhances access to a high-income Pacific economy and aligns with its broader Indo-Pacific economic strategy. For New Zealand, the FTA provides greater access to one of the world’s fastest-growing major economies amid increasing global trade uncertainty.
Also Read: India Signs FTA With New Zealand, Piyush Goyal Hints At Two More In Coming Months
During his visit to Auckland, Prime Minister Narendra Modi is expected to hold bilateral talks with his New Zealand counterpart, Christopher Luxon, to review the entire spectrum of bilateral ties, with particular emphasis on trade, commerce and defence. Modi is also slated to meet prominent business and sports personalities and address members of the Indian diaspora.
With inputs from PTI
