Does New Zealand Have A Free Trade Agreement With India
India and New Zealand: Our history, our future report shows that we are closely linked and that we share a common interest in the stability, security and prosperity of our region. Professor C Raja Mohan said: „New Zealand must be a trick to find a new way to work with India. You should always look for new ways to work, and not just in trade. We are also negotiating a regional free trade agreement that includes India: As an example – New Delhi`s ubiquitous green and yellow self-rickshaw, often referred to as „Tuk Tuks,” have a little-known connection with New Zealand. More than a decade ago, New Delhi banned two-stroke engines to clean the city`s air. Aucklands Compac Industries – a specialist in gas meters and other fuel dispenser products – has entered the picture and has become an integral part of the city`s rickshaw industry, powered by compressed natural gas. NZ also has bilateral trade agreements with Malaysia, Australia and Thailand. Distributors should consider the agreement that is most beneficial to their imported/exported products. Revised rules of origin for trans-Tasman trade came into effect on September 1, 2011. For more information on the rules of origin for ANCERTA and general instructions for using the agreement, see fact sheet 20 (PDF 268 KB). More information can also be found on the MFAT website. The RCEP is an expression of New Zealand`s interest in finally concluding a trade agreement with India, which is the world`s seventh largest economy in nominal GDP and third in terms of purchasing power parity. India is New Zealand`s 13th largest trading partner. According to Statistics New Zealand, the tourism industry dominates New Zealand`s bilateral exports with NZ900 million (US$596 million), more than half of the total value of $1.6 billion (US$1.06 billion).
Goods account for only 43 per cent of exports at $709 million ($469 million). Today, 73% of New Zealand`s imports from India are produced, or $730 million ($483 million). The goods can be shipped by a non-party party to the agreement and maintain preference. However, goods must not enter the trade or trade of a party or be subject to certain operations other than unloading, transshipment, deconditioning and other procedures necessary to keep the goods in good condition while they are being transported by that party. The 20 chapters of the agreement are comprehensive and go beyond the simple liberalisation of goods and services. There are rules on digital trade, movement of people, small and medium-sized enterprises, public procurement and intellectual property – areas rarely covered in other PTAs.