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.
Sirma Karapeeva, chief executive of MIA, says the application is an exciting and important development as New Zealand looks to trade to drive its economic recovery following the Covid-19 pandemic.
“Closer regional integration that includes such an important trading partner like China will allow New Zealand red meat companies to leverage supply chains and deepen their relationships with customers across this important region.”
Karapeeva says the CPTPP was conceived with a vision for deeper regional integration and a closer more connected trading block within the Asia Pacific.
“The broad interest in membership and China’s formal application to join the agreement demonstrates that the CPTPP is delivering on this ambition.”
B+LNZ chief executive Sam McIvor says the sector is supportive of new members who demonstrate a willingness and ability to meet the benchmark for high standards and ambition that the original members set for the CPTPP.
“The China-New Zealand FTA, and the recent upgrade, demonstrates the high quality and commitment to trade liberalisation that China is capable of and will be most welcome in a CPTPP context.
“Furthermore, the expansion of CPTPP is an important step in continuing to update and harmonise trade rules in the Asia-Pacific region. It sends an important message to the wider trade community, including the WTO, that trade rules continue to be important and there remains an appetite to expand these and build closer trade relationships.”
