New Zealand, India to sign free trade deal

New Zealand and India will formally sign a free trade agreement on April 27 in India’s capital, New Delhi, the New Zealand government announced on Monday, News.Az reports, citing Xinhua.

New Zealand Trade and Investment Minister Todd McClay said in a statement that legal verification of the New Zealand–India free trade agreement has now been completed.

According to the statement, the agreement will eliminate or reduce tariffs on 95 percent of New Zealand’s current exports to India.

From the day the agreement comes into force, nearly 57 percent of exports — including lamb, wool, coal, leather, and most forestry and industrial products — will become duty-free. This share is expected to rise to 82 percent once the agreement is fully implemented.

The remaining 13 percent of exports, which includes kiwifruit, apples, manuka honey, wine, and some dairy products, will be subject to significant tariff reductions, the statement added.

News.Az 

By Nijat Babayev