NZ Foreign Minister Slams India FTA as 'Neither Free Nor Fair'

Image Source: Internet

New Zealand's Foreign Minister Winston Peters has voiced strong objections to the country's recently signed free trade agreement (FTA) with India. According to Peters, the deal fails to provide a fair balance for both nations and gives New Zealand too much without securing significant benefits in return. Peters, who represents the New Zealand First party, expressed concern that the agreement prioritizes easing Indian migration to New Zealand and increasing investment flows into India over facilitating two-way trade. He emphasized that this approach could undermine the country's tight labor market. The New Zealand First party had urged its coalition partner to secure the best possible deal, but Peters claims that the government rushed into a low-quality agreement without a clear parliamentary majority. He also criticized the exclusion of major dairy products, such as milk, cheese, and butter, from the FTA. The deal, announced by Prime Minister Narendra Modi and New Zealand's Christopher Luxon, aims to double bilateral trade in five years and attract $20 billion in investments in India over the next 15 years. However, Peters' reservations have raised questions about the agreement's fairness and effectiveness. In a statement, Peters expressed his respect for External Affairs Minister S Jaishankar and communicated his party's concerns to him. The criticism comes as negotiations on the deal began in March, and it remains to be seen how the New Zealand government will address Peters' concerns and ensure a more balanced agreement.