New Delhi, April 27: Today, India and New Zealand will sign a bilateral trade agreement (BTA) aimed at enhancing trade relations between the two nations. The signing will take place at the India Pavilion during the India-New Zealand Business Forum meeting.
This agreement, reached during New Zealand’s Business and Investment Minister Todd McClay’s visit to India, allows India to export 100% of its goods duty-free. In return, New Zealand will reduce or eliminate tariffs on 95% of its exports to India.
The two countries have set a target to double their bilateral trade to $5 billion over the next five years. Additionally, the deal includes a provision for New Zealand to offer a quota of 5,000 visas annually for Indian professionals.
The agreement aims to bring in $20 billion in investments over the next 15 years and strengthen trade ties, thereby boosting economic opportunities for startups, MSMEs, and professionals. Currently, the bilateral trade between India and New Zealand is approximately $1.3 billion, with total trade in goods and services reaching around $2.4 billion in 2024.
Key exports from India to New Zealand include wool, coal, timber, wine, avocados, and blueberries, while New Zealand will not impose duties on sheep meat, wool, and over 95% of forestry and wood products. However, sensitive sectors such as dairy and certain agricultural products have been excluded from this agreement to protect Indian farmers.
This trade deal follows the announcement made during New Zealand Prime Minister Christopher Luxon’s visit to India on March 16, 2025, regarding the commencement of negotiations.