Mumbai, July 22 (SocialNews.XYZ) The proposed India–New Zealand Free Trade Agreement (FTA) is expected to come into force soon and, together with the newly elevated Strategic Partnership between the two countries, is expected to help double bilateral trade by 2030, New Zealand's Trade Commissioner and Consul-General to India and South Asia, Graham Rouse, said on Wednesday.
In an exclusive interview with IANS, Rouse said the recent elevation of India–New Zealand ties to a Strategic Partnership marks a historic milestone and provides a strong foundation for expanding economic engagement across trade, investment and services.
"There were many important aspects to this visit. In addition to being a historic occasion, several historic agreements were reached, the most significant being the elevation of the India–New Zealand relationship to a Strategic Partnership. What is especially exciting for me is that this partnership includes a shared ambition to double bilateral trade by 2030," Rouse said.
He noted that while the target may initially appear ambitious, the pace of trade growth in recent years suggests it is well within reach.
"During my time in India since 2023, trade between the two countries has already doubled. With a Free Trade Agreement also expected to come into force soon, the target of doubling trade again by 2030 appears both realistic and achievable," he added.
Rouse described the development as a major step forward in economic cooperation, saying it gives both countries strong reasons to be optimistic about the future of their partnership.
Highlighting the benefits of the proposed FTA, he said nearly 100 per cent of Indian exports to New Zealand would enjoy tariff-free access, making Indian products significantly more competitive in the New Zealand market.
According to Rouse, the biggest beneficiaries from India are expected to be manufacturing sectors such as electronics, pharmaceuticals and engineering goods, along with labour-intensive industries including apparel, textiles, footwear and leather.
Services such as information technology, healthcare and education are also expected to receive a boost under the agreement.
Source: IANS
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