New Delhi: New Zealand Prime Minister Christopher Luxon has announced the finalisation of the India-New Zealand Free Trade Agreement (FTA), saying the landmark trade pact is set to come into force next month.
In a post on X, Luxon recalled his commitment made nearly three years ago that, if elected, the National-led government would secure a free trade agreement with India during its first term. He said the conclusion of the deal marks the fulfilment of that commitment.
Luxon highlighted the potential of the agreement to create new opportunities for businesses and exporters in New Zealand. He said greater market access could help businesses expand, support employment and contribute to higher incomes and stronger economic growth.
The India-New Zealand FTA is aimed at significantly expanding bilateral trade and investment while providing businesses in both countries with improved access to each other’s markets.
The agreement covers a broad range of economic sectors and is expected to provide opportunities for exporters across areas such as agriculture, food and beverages, manufacturing, services, technology and other key industries.
For New Zealand, the trade pact opens greater access to the large and growing Indian market, while Indian businesses will gain improved opportunities in New Zealand.
The finalisation of the FTA marks an important development in India-New Zealand economic relations, building on the growing engagement between the two countries.
Luxon said the agreement could have an impact extending beyond individual businesses, benefiting their employees and contributing to the wider New Zealand economy through new export opportunities, business expansion, jobs and incomes.
The FTA is expected to provide a long-term framework for strengthening commercial ties and deepening economic cooperation between India and New Zealand.