A new free trade agreement between New Zealand and India is expected to reduce tariffs on most New Zealand exports, including several horticultural products.
According to Waitaki MP Miles Anderson, the agreement will eliminate or reduce tariffs on 95% of New Zealand exports.
"Horticulture benefits include Kiwifruit duty-free within a quota nearly four times current export volumes, a 50 per cent tariff cut for apples on a large quota almost double recent exports, and tariff elimination over time for cherries, avocados, blueberries and persimmons," Anderson said in his "Miles' Monthly" newsletter.
© Instagram
Tariffs on apricots and pears will also be reduced. According to the Ministry of Foreign Affairs and Trade, tariffs for both products will fall from 33% to 16.5% over periods of five and 10 years, respectively.
Anderson said the agreement would improve export access to India's market of 1.4 billion people.
"This agreement gives our exporters unprecedented access to 1.4 billion people and an economy set to become the third-largest in the world," he said.
RNZ business reporter Jeffrey Halley said horticulture exporters were among the sectors expected to benefit from the agreement, although he described the changes as occurring in a "managed way".
Trade and Investment Minister Todd McClay signed the agreement in New Delhi alongside Indian Minister for Commerce and Industry Piyush Goyal.
Source: The Central App
