NZ-India FTA signed – MP Vanessa Weenink
Trade deal will be huge economic boost for Cantabrians, says MP for Banks Peninsula Vanessa Weenink.
The New Zealand–India Free Trade Agreement (FTA) has been signed, marking a once in a generation step forward for New Zealand exporters into a market of 1.4 billion people. This will deliver significant gains for exporters, cutting or eliminating tariffs on 95 per cent of our exports. From day one, more than half of New Zealand exports to India will be duty free, rising to 82 per cent when fully implemented.
This deal is going to be massive for Canterbury. It means better access for sheep meat, dairy, manufacturing and services exports into one of the world’s fastest growing economies. Selling more products overseas means more money flowing into our local economy – creating jobs, lifting wages and putting more money in your back pockets.
With plenty of seafood businesses on the Banks Peninsula, it was incredibly promising to see that mussels, salmon and most other seafood exports will gain duty free access within seven years.
It has been only two years since the NZ–EU FTA commenced, which is already delivering. NZ exports to the EU are up by more than $3 billion – with total seafood exports up 15 per cent to $384 million, and the Banks Peninsula is benefiting from this deal. The NZ-India FTA will only bring more benefits to people on the Banks Peninsula.
There’s been a lot of misinformation about immigration under the new FTA with India. This FTA does not open the floodgates on immigration. It allows around 1700 temporary three year work visas per year – less than 3% of all work visas. Total numbers are capped, so there can’t be more than 5000 at any one time. The FTA does not grant automatic rights for family members to enter, work or study in New Zealand. There is no back door pathway.
The FTA is about lifting incomes for Kiwis and means we can sell more of what we are good at to 1.4 billion people, helping Kiwis get ahead.
