The India-New Zealand Free Trade Agreement (FTA) will take effect on October 20, creating major opportunities for New Zealand businesses, said High Commissioner Patrick John Rata. The deal will boost NZ exports of kiwifruit, honey, and apples.

A Significant Opportunity for New Zealand

The India-New Zealand Free Trade Agreement (FTA), set to come into effect on October 20, will provide significant opportunities for New Zealand businesses to expand their presence in India's growing consumer market, New Zealand High Commissioner to India Patrick John Rata said on Monday.

Speaking to ANI ahead of the implementation of the trade agreement, Rata highlighted the potential for New Zealand exporters to increase sales of agricultural products, including kiwifruit, honey and apples, in India.

"It will be a significant opportunity for New Zealand in this FTA," Rata told ANI. He said the agreement would provide New Zealand businesses access to India's large consumer market at a time when the Indian economy is witnessing strong growth.

The High Commissioner expressed hope that the agreement would encourage Indian consumers to purchase larger quantities of products for which New Zealand is known. He specifically highlighted "kiwi fruit, honey, and apples" among the products that could find greater demand in the Indian market.

Key Provisions of the Trade Agreement

The agreement, which was signed on April 27, is scheduled to enter into force on October 20 after both countries complete their ratification processes on September 21. According to India's Ministry of Commerce and Industry, the agreement provides calibrated market access for New Zealand's apples, kiwifruit and Manuka honey through tariff-rate quotas, minimum import prices and other safeguards aimed at protecting domestic farmers.

The agreement also includes agricultural cooperation initiatives focused on improving productivity, technology adoption and supply chains for apples, kiwifruit and honey. On the other hand, New Zealand will eliminate tariffs on all Indian goods from the date the agreement comes into force, providing greater market access for Indian exporters.

According to New Zealand's Ministry of Foreign Affairs and Trade, 57 per cent of New Zealand's exports to India will become eligible for tariff-free entry from October 20, subject to applicable conditions. The implementation of the FTA is expected to strengthen bilateral trade ties and create new opportunities for businesses in both countries. (ANI)

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