Does New Zealand Have A Free Trade Agreement With India

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Does New Zealand Have A Free Trade Agreement With India

India is expected to be one of Asia`s leading economic forces in the coming decades, fuelled by its large and young population and sustainable economic growth. New Zealand and India enjoy a growing trading relationship and the conclusion of a free trade agreement with India is a priority. In order to make progress towards India`s return to RCEP, the two countries should strengthen bilateral initiatives in addition to multilateral dialogues and negotiations. This requires New Zealand, along with other RCEP members, to recognize the strategic importance of maintaining India`s trade liberalization. While India needs to implement domestic reforms to better support trade liberalization initiatives, it is clear that concerted efforts on the part of participants will be needed to address some of India`s concerns. The 20 chapters of the agreement are comprehensive and go beyond the liberalization of goods and services. Rules for digital trade, the movement of people, the functioning of small and medium-sized enterprises, public procurement and intellectual property are put in place, areas rarely dealt with in other ATPs. New Zealand is a party to several Free Trade Agreements (SAAs) around the world. However, different requirements are met for products classified in Chapters 61 and 62 of the HS Code (Articles of Clothing). The exporter/producer must receive a certificate of origin from the Ministry of Commerce and Industry of Hong Kong, China, or a certification body in Hong Kong, China, approved by the government.

Negotiations on the agreement began in April 2010. The last round of formal negotiations (round 10) took place in Delhi in February 2015. The Trans-Pacific Strategic Economic Partnership (P4) agreement is an agreement between Brunei Darussalam, Chile, Singapore and New Zealand. The P4 agreement, which stands for “Pacific 4”, entered into force in 2006. Under P4, most tariffs on goods traded between Member States were immediately abolished, with the remaining duties due to expire (by 2015 for Brunei Darussalam and 2017 for Chile). For most goods, goods originating in New Zealand under this Agreement need not be accompanied by a certificate of origin issued by a certification body. The importer may choose the form of the proof of origin which he requires from the exporter or producer, provided that it contains all the necessary data elements. A sample instruction is available to merchants if they wish.

New Zealand and India already have a strong relationship. India was 10 years old from New Zealand in June 2016. largest trading partner with total trade in goods and services worth more than NZ$2.5 billion. . . .

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