NCB India

Today, we mark a historic milestone in the relationship between India and New Zealand: the signing of our Free Trade Agreement.   It was only 13 months ago that I travelled to India to meet with Prime Minister Modi and launch Free Trade Agreement negotiations. India is one of the world’s largest and fastest-growing economies, but our trade relationship has only begun to scratch the surface of its potential. Prime Minister Modi and I could see that an FTA would be a massive opportunity for both our two countries.   Since my visit last March, Ministers Piyush Goyal and Todd McClay, and their officials, have worked tirelessly to negotiate a deal. The outcome of that hard work is a deal that delivers for India and for New Zealand. My congratulations to Minister Goyal, Minister McClay and all the negotiators who made this possible.   For New Zealand, this FTA opens the door to one of the world’s most dynamic markets and creates unprecedented opportunities to trade, invest, innovate and connect. This deal will help diversify New Zealand’s export markets, support the goal of doubling the value of our exports over 10 years, and put New Zealand exporters on a more level playing field with competitors already enjoying preferential access in India.   For India, this deal means growth, innovation and new opportunities. It gives Indian exporters tariff-free access to the New Zealand market from day one, and it gives Indian consumers improved access to our high-quality exports. It creates new ways for India to partner with New Zealand on agricultural productivity and benefit from New Zealand’s world-leading agri-tech and food-production expertise.   This agreement matters not just because of what it does economically, but because of what it says strategically. At a time of global uncertainty, this FTA is a clear commitment by both sides to stable, predictable, and rules-based trade.   And the India-New Zealand story is about more than trade. New Zealand and India are building a relationship that is bigger, deeper and more exciting every year – across trade, investment, defence, sport, and innovation.   New Zealand’s vibrant Indian diaspora is central to the strong relationship between our two countries. In Prime Minister Modi’s words, the diaspora is a “living bridge” between New Zealand and India. The contribution of the Indian community to New Zealand is immense: in business, in science, in education, in health, in the arts, in sport, and in communities right across the country.   While today is a big milestone, it is also just the beginning. We are excited about the next chapter in India-New Zealand relations.