New Zealand's PM Calls India Trade Pact a Game-Changer Amid Global Uncertainty

A Landmark Trade Agreement

New Delhi: Christopher Luxon, the Prime Minister of New Zealand, has hailed the recently signed free trade agreement with India as a "once-in-a-generation" opportunity. He emphasized that in these times of global unpredictability, this agreement signifies a mutual commitment to maintaining a stable, predictable, and rules-based trading environment.

The agreement was formalized on Monday by Piyush Goyal, India's Minister of Commerce and Industry, alongside New Zealand's Trade and Investment Minister, Todd McClay.

Luxon expressed on social media, "This is a once-in-a-generation agreement that provides New Zealand exporters with unparalleled access to a market of 1.4 billion people, which is projected to become the world's third-largest economy."

He noted that this deal will unlock access to one of the most vibrant markets globally, fostering opportunities for trade, investment, innovation, and collaboration.

The pact aims to diversify New Zealand's export markets, assist in achieving the goal of doubling export values over the next decade, and level the playing field for exporters who previously faced competition with preferential access in India.

Additionally, Luxon highlighted that the agreement grants Indian exporters tariff-free access to New Zealand's market from the outset, while also enhancing Indian consumers' access to high-quality New Zealand products. It opens avenues for India to collaborate with New Zealand in agricultural productivity, leveraging New Zealand's expertise in agri-tech and food production.

He concluded by stating that this agreement is significant not only for its economic implications but also for its strategic importance, reinforcing both nations' commitment to stable and predictable trade practices during uncertain global times.