NZ-India relationship elevated to Strategic Partnership
New Zealand Prime Minister Christopher Luxon and Indian Prime Minister Shri Narendra Modi have signalled their two countries’ ambition to do more together by elevating their relationship to a Strategic Partnership.
“This is a major step in the relationship between New Zealand and India, and signals our shared ambition to do more together,” Mr Luxon says.
The Prime Ministers agreed a Roadmap to 2030 for the Strategic Partnership and set the direction for the next stage of the partnership, including an ambitious goal to double two-way trade by 2030.
“This Roadmap reflects the breadth of the relationship – from trade, investment and technology to maritime security, education, tourism, sport, agriculture and community,” Mr Luxon says.
“Implementing our New Zealand-India Free Trade Agreement is central to that plan. It is a landmark achievement that will drive long-term growth for both countries.
“It will reduce barriers, give businesses greater certainty, and unlock new opportunities across goods, services, investment, education and tourism – supporting Kiwi businesses to grow, create jobs and lift incomes.
“This FTA will reduce or eliminate tariffs on 95 per cent of New Zealand’s exports to India once fully implemented. From day one, 57 per cent of our exports will be tariff-free.
“It will unlock new opportunities to grow our goods and services exports into a market of 1.4 billion people and contribute to achieving the Government’s goal of building the future by doubling the value of exports by 2034.”
The Roadmap has a significant focus on maritime security, including a Maritime Cooperation Arrangement between the New Zealand and Indian defence forces.
“New Zealand’s prosperity and security depend on a stable and secure Indo-Pacific,” Mr Luxon says. “That’s why we are stepping up practical cooperation at sea and deepening how we work together and share perspectives on maritime security.”
About Alliott NZ Chartered Accountants
Alliott NZ is part of the global Alliott Global Alliance and specialises in supporting foreign businesses expanding into New Zealand.
If you’re considering investing or relocating to New Zealand, specialist cross-border advice is essential. As New Zealand’s member of Alliott Global Alliance, Alliott NZ can connect you with trusted tax, legal and business advisers across New Zealand, and in more than 100 other countries. Contact our team to discuss your circumstances or be introduced to the right experts.
Learn more at www.alliottnz.com »
Related reading