Source: Radio New Zealand
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 Chris Hipkins has warned businesses to proceed at their own risk and do their own due diligence.
“New Zealand businesses need to go into this with their eyes wide open,” the Labour leader said announced support for the deal on Thursday.
“The deal cuts tariffs, and increases market access for New Zealand exporters, and that is very welcome. But the $33 billion investment target is unrealistic and missing it could see benefits clawed back in 15 years.
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 means National and ACT require Labour’s support in order to pass legislation to enact parts of the agreement.
Labour and National have been at an impasse for months over the extent of advice being shared about the deal.
Labour leader Chris Hipkins RNZ / Mark Papalii
An array of exporters and business associations last week issued an open letter calling on all parties to support the deal.
Earlier, 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
