Red meat sector welcomes signing of India-New Zealand trade agreement

New Zealand’s red meat sector has welcomed the signing of the India-New Zealand Free Trade Agreement (FTA) and its potential to unlock opportunities over time in one of the world’s largest and fastest-growing markets.

Meat Industry Association (MIA) independent chair Nathan Guy says once ratified, the FTA will expand New Zealand red meat exporters’ trade options in a challenging global environment.

“Exporters are operating in a world of rising protectionism and ongoing volatility. Having a broader mix of markets and expanding our reach will help spread risk and provide more stability for farmers and exporters.

“India is a market with significant long-term potential. While we won’t see immediate gains, this FTA charts a path to improve market access and create new opportunities for the red sector.”

Beef + Lamb New Zealand chair Kate Acland says the agreement positions New Zealand in a market with strong promise.

“India is now the world’s most populous country and is expected to become the third-largest economy within the next five years. As incomes rise in India, so will demand for high-quality natural protein.

“Access has been constrained due to a 30 per cent tariff on New Zealand sheepmeat. This FTA will start the process of addressing those barriers and puts us in a stronger position as the market develops.

“The FTA can help build the red meat sector’s resilience and enable us to keep delivering for the New Zealand economy.”