WELLINGTON, April 20 (Xinhua) -- New Zealand and India will formally sign a free trade agreement on April 27 in India's capital of New Delhi, the New Zealand government announced Monday.
Legal verification of the New Zealand-India free trade agreement has been completed, New Zealand Trade and Investment Minister Todd McClay said in a statement.
The agreement will eliminate or reduce tariffs on 95 percent of New Zealand's current exports to India, the statement said.
From the day it enters into force, nearly 57 percent of exports, including lamb, wool, coal, leather and most forestry and industrial products, will become duty-free, and the ratio shall rise to 82 percent when fully implemented, according to the statement.
The remaining 13 percent covering kiwifruit, apples, manuka honey, wine and some dairy products is subject to sharp tariff cuts, it said. ■