Source: Radio New Zealand
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New Zealand’s Trade Minister has signed the free trade agreement with India in New Delhi.
Todd McClay said the deal would deliver thousands of jobs and billions of dollars in additional exports, and was being signed at a time of high global uncertainty.
“Creating opportunities for our businesses to diversify and create strong trading relationships provides economic security for New Zealanders – and that is crucial in these times of global unrest.”
Indian Commerce and Industry Minister Piyush Goyal told those present that, as two countries who love cricket, the deal represented a shared pitch.
It was the first time an agreement has been signed in front of a large delegation of business partners, he said.
Prime Minister Christopher Luxon said in a media release the benefits of the FTA would be widespread.
“In signing this FTA we are setting businesses up to succeed, boosting Kiwi jobs and enabling economic growth – and that means more money in Kiwis’ pockets,” Luxon said.
McClay was in the Indian capital with a delegation of MPs and about 30 business representatives.
Labour confirmed last week it would back the deal after New Zealand First refused to do so.
The signing marked the end of 16 years of attempted negotiations and brings New Zealand greater market access to India’s 1.4 billion customers, McClay said earlier.
It also included up to 5000 temporary work visas for Indian professionals.
McClay said despite it being the second-fastest agreement New Zealand has negotiated, it has not been rushed.
The Council of Trade Unions, meanwhile, has slammed the deal, saying it risks enshrining exploitative labour conditions.
Watch the signing on the livestream at the top of this page.
New Zealand’s Trade Minister exchanges gifts after signing the free trade agreement (FTA) with India in New Delhi. supplied
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
