New Zealand trade deal makes majority of goods trade “duty free.”Bilateral merchandise trade between the two countries was $1.3 billion in 2024–25.This is India’s third trade deal this year following a free trade agreement with UK in July and another pact with Oman earlier this month.The trade pact, which will be reviewed after one year, will be signed in the first half of next year.Trade Minister Todd McClay says the new agreement – expected to be formally signed off next year – will eliminate or reduce tariffs on 95 percent of exports, with wins for kiwifruit, apples, meat, wool, coal, forestry, and more
“It puts New Zealand exporters on an equal or better footing to our competitors across a range of sectors and opens the door to India’s rapidly expanding middle class,” he said.
Almost 57 percent of exports would be duty-free from day one of the agreement coming into force, he said, “increasing to 82 per cent when fully implemented, with the remaining 13 per cent subject to sharp tariff cuts”.
