Wellington, New Zealand: New Zealand said Monday it had agreed a wide-ranging free-trade deal with India that eliminates tariffs on 95 percent of the Pacific country's exports.
Trade and investment minister Todd McClay said the deal, which comes into effect in the first half of next year, gave unprecedented access to India's 1.4 billion consumers.
"This once-in-a-generation agreement creates opportunities New Zealand exporters have never had in India," McClay said, adding that it "will deliver thousands of jobs and billions in additional exports".
New Zealand's conservative National Party-led coalition government made a promise in 2024 that it would negotiate a deal with India, after the previous, left-leaning Labour administration was unable to get one across the line.
The deal simplifies entry to New Zealand for some Indian workers, including 1,667 temporary work visas each year for the information and communications technology sector, engineering and some health services.
It also includes a working holiday scheme allowing up to 1,000 people aged 18-30, and allows Indian students to work for up to 20 hours a week.
Indian Prime Minister Narendra Modi's office said he had spoken to New Zealand counterpart Christopher Luxon on Monday and the two agreed that the deal, signed in a "record time of nine months", would further deepen ties.
Both "leaders agree that the free-trade agreement would serve as a catalyst for greater trade, investment, innovation and shared opportunities between both countries", Modi's office said in a statement.
The agreement "would also open up new opportunities" for innovators, entrepreneurs and farmers, it added.
