New Delhi, 15 September (H.S.): The India-New Zealand Free Trade Agreement (FTA) is likely to come into force from October 19. The two countries signed the agreement on April 27 this year. The pact is aimed at promoting trade in goods and services as well as investment between the two countries.

According to an official statement issued on Tuesday, the India-New Zealand Free Trade Agreement (FTA) is expected to come into effect from October 19. Under the agreement, New Zealand has also committed to providing duty-free access to 100 per cent of India’s exports. This means that New Zealand will not levy any import duties on goods arriving from India.

The two countries had signed the Free Trade Agreement (FTA) on April 27 to expand bilateral trade in goods and services and promote investment. Under the FTA, 100 per cent of India’s exports will receive duty-free access to the New Zealand market.

It may be recalled that New Zealand has committed to investing US$20 billion in India over a period of 15 years.

Hindusthan Samachar / Jun Sarkar