Source: Radio New Zealand
RNZ / Samuel Rillstone
The Labour Party has confirmed it will support the India-NZ free trade deal, giving National and ACT the required numbers to pass it through Parliament.
But Labour leader Chris Hipkins said he remained concerned about a commitment in the agreement to promote up to $20 billion (USD) of New Zealand private sector investment over 15 years.
In a media conference at Parliament on Thursday, Hipkins said that target was “very unrealistic” and Labour would not have agreed to that in negotiations.
“It is almost impossible for New Zealand to ever meet that target, and that is one of the things our exporters will need to be aware of,” he said.
“We’re not going to stop the agreement proceeding because of it, but businesses need to be aware that that is a risk to them.”
In a media conference at Parliament on Thursday, Hipkins said that target was “very unrealistic”. RNZ / Samuel Rillstone
Trade minister Todd McClay is set to fly to New Delhi over the long weekend to sign the agreement on Monday.
However, New Zealand First’s firm opposition to the deal meant National and ACT required Labour’s support in order to pass legislation to enact parts of the agreement.
Labour and National had been at an impasse for months over the extent of advice being shared about the deal.
An array of exporters and business associations last week issued an open letter calling on all parties to support the deal.
At the time, Hipkins said he was still waiting for the government to clarify some “issues and inconsistencies”.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
