"Under the terms of the agreement, India will gain zero-duty access for all goods exports to New Zealand. Wellington will receive duty concessions and market access for about 70 percent of India's tariff lines, covering roughly 95 percent of New Zealand's exports to India on a phased basis, officials said. New Zealand is seeking to expand exports of dairy, fruit, wool and wine to India, with significant gains expected in horticulture, wood products and sheep wool."
"The announcement comes as governments across the globe seek to diversify trade links due to the uncertainty driven by United States President Donald Trump's sweeping tariffs. India's biggest beneficiaries from tariff-free access to New Zealand's market are expected to include textiles and apparel, engineering goods, leather and footwear, and marine products. New Zealand will also commit to investment worth $20bn in India over 15 years, India's Ministry of Commerce and Industry said, while skilled Indian professionals should get easier access to New Zealand's job market."
India and New Zealand reached a free trade agreement to be formally signed in the first quarter of next year. India will receive zero-duty access for all goods exports to New Zealand. New Zealand will obtain duty concessions and phased market access on about 70 percent of India's tariff lines, covering roughly 95 percent of New Zealand's exports to India. New Zealand expects export growth in dairy, fruit, wool, wine, horticulture, wood products and sheep wool. India expects gains in textiles, apparel, engineering goods, leather, footwear and marine products. New Zealand will commit $20bn of investment in India over 15 years, and skilled Indian professionals should gain easier access to New Zealand jobs.
Read at www.aljazeera.com
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