India FTA Removes 33% Tariff on NZ Sheepmeat
New Zealand’s red meat sector has welcomed the India-New Zealand Free Trade Agreement taking effect, which removes India’s 33% tariff on New Zealand sheepmeat.
She says this is particularly in markets with great prospects in the future such as India.
"It has taken nearly 20 years to conclude this negotiation, and we would like to see it passed by the respective Parliaments.
"As with some of our other FTAs, it will be possible to negotiate improvements in the future.
"This year, India surpassed China as the most populous country in the world. It is projected to become the world's third-largest economy within five years, and its middle class is growing.
"In addition to unlocking a promising market that has been constrained due to the 30% tariff currently on New Zealand sheepmeat, an FTA will also deliver important additional options for our exporters, spread risk and provide greater stability."
B+LNZ has signed an open letter to parliamentarians from BusinessNZ calling for the signing of the FTA.
Meat Industry Association (MIA) chair Nathan Guy says that FTA brings New Zealand's red meat sector one step closer to unlocking new opportunities from a market with considerable long-term potential.
"And we are calling on the Government to sign the FTA now to keep building momentum.
"Globally our exporters are facing rising protectionism, uncertainty and volatility. Access to different markets is key to help us weather market dynamics as it provides the sector with options and create resilience supporting farm-gate returns and the national economy," says Guy.
