India-NZ FTA may come into force next month: Official

The India-New Zealand free trade agreement is likely to come into force next month, an official said on Thursday.

On April 27, the two countries signed the free trade agreement (FTA) to boost two-way commerce in goods and services and promote investments.

The pact will be implemented next month on a mutually agreed date, the official said. The FTA provides duty-free access for 100 per cent of India’s exports to New Zealand. Earlier, New Zealand maintained peak tariffs of up to 10 per cent on key Indian exports, including ceramics, carpets, automobiles, and auto components. New Zealand has committed to invest $20 billion over 15 years.

INDIA-CHILE FTA: Both the countries are looking at concluding the negotiations for the pact by next month as the talks are progressing well, the official said.

“We are moving towards closure now,” the official said, adding that India is looking at commitments on the supply of critical minerals from Chile. Chile has interest in agriculture and horticulture sectors.