Christopher Luxon, the prime minister of New Zealand, announced on Sunday that the country will sign a Free Trade pact (FTA) with India on Monday. He described the deal as a "once in a generation agreement" that will provide Kiwi exporters access to one of the biggest markets in the world.
"New Zealand's Free Trade Agreement with India will be signed on Monday night," Luxon wrote in a social media post that included a video detailing the anticipated advantages of the agreement.
He emphasised the size of the opportunity in the video message by saying, "We are signing a Free Trade deal with India that opens one of the biggest markets in the world to Kiwi exporters."He emphasised that the deal would provide exporters with access to India's sizable consumer base and rapidly expanding economy. "It's a once-in-a-generation agreement that gives New Zealand exporters unprecedented access to 1.4 billion people, in an economy that is set to become the third largest in the world," he stated.
Luxon emphasised that the agreement would strengthen New Zealand's status as a worldwide competitor. "It puts New Zealand exporters on an equal or better footing to our competitors, and it opens the door [to] India's rapidly expanding middle-class," he said.
"One in four of our jobs in New Zealand are already linked to trade, and this FTA means more jobs on New Zealand farms and orchards," he stated, highlighting the significance of trade to the country's economy.
Luxon claims that the agreement is anticipated to increase economic activity and incomes nationwide. "It means more money coming into local communities, and it means more opportunity for your family to get ahead," he stated.
He added that more public investment would be possible in a stronger economy. "A stronger economy means that we can invest in the roads, the schools, the hospitals and the police, all the services that New Zealanders rely on," he stated.
Luxon described the deal as a "big win," claiming it will aid in increasing exports in several important industries. "This is a big win for New Zealand, and it makes it easier for Kiwis to sell more of what we are great at to the world," he added, citing goods like "Kiwifruit from the Bay of Plenty, wine from Central Otago, seafood, meat, honey."
He restated how important exports are to growth. "Exports underpin our economy, and enabling these sectors to compete on the world stage means supporting jobs, higher wages and economic growth," Luxon stated.
He summarised the anticipated advantages for the populace, saying, "That means more money for Kiwis' back pockets."