Our companies really need to be in India

More and more, New Zealand is seeing India as a key market. The country does not have an FTA there but wants to develop its relationship with India through a quality bilateral FTA. With India’s attractive demographics and young population, the growth opportunities are immense.

There is also the Regional Comprehensive Economic Partnership (RCEP), which is a giant trade pact among 16 countries aiming to cover goods, services, investments, economic and technical cooperation, competition and intellectual property rights.

The 16-member RCEP comprises ten ASEAN members (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam) and their six FTA partners (India, China, Japan, South Korea, Australia and New Zealand).

According to the Financial Express, the bilateral trade between India and NZ is worth almost NZ$ 2.5 billion (1.47 billion euros). The main products into India are logs, fruit and wool. Fruit is primarily kiwi fruit: Zespri is one of the key customers. From 2011 to 2016 the NZ-India two-way goods trade increased by 42%.

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