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<Econ> N Zealand Mar Trade Surplus NZD698M Beats Forecast, To Sign FTA with India Next Week
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Statistics New Zealand announced that N Zealand's merchandise exports rose 7.3% YoY to NZD7.944 billion in March. Imports increased 9.6% YoY to NZD7.246 billion in the same month. N Zealand recorded a trade surplus of NZD698 million in March, exceeding market expectations for a surplus of NZD175 million, compared with a deficit of NZD365 million in the previous reading. In addition, N Zealand and India will sign a free trade agreement next week, marking a milestone in bilateral trade relations. The agreement will be formally signed on April 27. N Zealand will gain access to Indias market of 1.4 billion people, which authorities described as a "once-in-a-generation" opportunity. The agreement will eliminate or reduce tariffs on 95% of N Zealand's exports to India. More than half of export products, including lamb, wool and forestry products, will become duty-free immediately, with the proportion of duty-free goods set to rise to 82% over time. N Zealand stated that the agreement will enhance the competitiveness of its exports in the Indian market. (da/w) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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