NZ parliament gives nod to FTA, rollout likely in October

NEW DELHI: New Zealand parliament has voted in favour of the trade agreement with India, setting the stage for its operationalisation. "People told me a FTA with India wasn't possible. Well, today that deal passed its final vote in Parliament. It's happening. National said we'd secure an FTA with India in our first term, and we've delivered. This landmark deal means more jobs, higher incomes for Kiwis. It means more New Zealand products being sold in India by opening the door to 1.4 billion Indian consumers," New Zealand PM Christopher Luxon said in a social media post.The agreement, expected to be operationalised next month, will allow duty-free access to all exports from India, with New Zealand also committing to invest $20 billion in the country.Govt will lower tariffs on wine and cut import duty for specified quantities of apples, kiwi and types of honey. India will get easier access for services in NZ, along with easier visa rules for professionals.Get the latest Business News and Live updates. Download the TOI app.