Connect with us

Politics

New Zealand concludes free trade agreement with India

Published

on

New Zealand concludes free trade agreement with India


Prime Minister of New Zealand Christopher Luxon shakes hands with his Indian counterpart Narendra Modi before their meeting at Hyderabad House in New Delhi, India, March 17, 2025. — Reuters
Prime Minister of New Zealand Christopher Luxon shakes hands with his Indian counterpart Narendra Modi before their meeting at Hyderabad House in New Delhi, India, March 17, 2025. — Reuters
  • Over half of products duty-free from day one.
  • New Zealand to offer 1,667 temporary work visas annually.
  • Extra 1,000 working-holiday visas each year.

New Zealand and India struck a free trade agreement, both governments said on Monday, making it easier for New Zealand’s exporters to reach the world’s biggest population and an economy forecast to be worth NZ$12 trillion ($7 trillion) by 2030.

The agreement eliminates or reduces tariffs on 95% of New Zealand’s exports to India with more than half of products to be duty free on day one of the pact, improving access to India’s rapidly expanding middle class, the New Zealand government said.

New Zealand would offer some 1,667 temporary work visas a year for people in areas where it has skills shortages, including doctors, nurses, teachers, technology professionals and engineers, and another 1,000 places a year in its working holiday visa program, matching Australia’s free trade pact with India.

“The gains are wide-ranging and significant,” said New Zealand Prime Minister Christopher Luxon.

“India is the world’s most populous country and is the fastest-growing big economy, and that creates opportunities for jobs for Kiwis, exports and growth,” he added.

The countries expect to sign the agreement in the first half of 2026, the New Zealand government said.

New Zealand’s trade minister, Todd McClay, said the deal put the country on an equal or better footing than other countries which traded with India and “will deliver thousands of jobs and billions in additional exports”.

The Indian government confirmed the pact without giving further detail. India’s trade minister was scheduled to speak with reporters later on Monday.

The deal makes good on a 2022 election promise from New Zealand’s governing National Party that if elected it would finalise a New Zealand-India free trade agreement in its first term.

But parliamentary approval was not immediately assured. New Zealand First, with which the Nationals have a coalition and which holds eight of the 123 seats, would vote against the deal, said NZ First leader Winston Peters.

The deal “gives too much away, especially on immigration, and does not get enough in return for New Zealanders, including on dairy”, Peters said.

Two-way trade between the two countries totalled NZ$3.14 billion in 2024, dominated by pharmaceuticals from India and forestry and agricultural products from New Zealand, including wool, logs and apples.





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Politics

Crew of US-seized Iranian vessel transferred to Pakistan for repatriation: Report

Published

on

Crew of US-seized Iranian vessel transferred to Pakistan for repatriation: Report



The crew from the Iranian commercial vessel Touska that has been seized by the US as part of Washington’s continued illegal naval blockade against the Islamic Republic have reportedly been transferred to Pakistan in preparation for their return to Iran.

ABC News reported the development on Sunday, citing US Central Command (CENTCOM), which overseas American troops in the West Asia region.

The transfer to Pakistan, it added, took place to facilitate arrangements for the 22-strong crew’s return.

The report noted that procedures had also begun to return the ship to its owner.

The vessel was seized last month. The United States had announced the blockade on April 13 and then ordered its continuation, despite US President Donald Trump’s having earlier declared a ceasefire in aggression targeting the Islamic Republic.

Iran has vehemently denounced the blockade, and pledged not to rejoin talks with the US as long as it stays in place.

The Islamic Republic has also described seizure of several Iranian vessels as part of the illegal measure, as an act of piracy and asserted that it reserves all rights to take due defensive countermeasures.

Trump has, himself, admitted that the US Navy acts “like pirates” in implementing the blockade.

Iranian Foreign Ministry spokesman Esmaeil Baghaei commented on the admission in a post on X on Saturday, saying, “This was no verbal slip. It was a direct and damning admission of the criminal nature of their actions against international maritime navigation.”



Source link

Continue Reading

Politics

Two missiles hit US Navy vessel after it ignored Iran’s warning: Report

Published

on

Two missiles hit US Navy vessel after it ignored Iran’s warning: Report



Two missiles have struck a US Navy vessel near the strategic Strait of Hormuz after it ignored warnings from Iran’s naval forces, according to a report.

Fars News Agency reported that the American warship was moving in the vicinity of Jask port on Monday with the intention of transiting through the Strait of Hormuz, in violation of maritime security protocols.

The vessel reportedly disregarded multiple warnings issued by the Islamic Republic of Iran’s naval forces before being targeted.

According to the report, the US vessel suffered damage from the strikes, forcing it to abandon its course and retreat from the area.

The Islamic Republic of Iran had previously announced that any transit through the Strait of Hormuz without official authorization from Iran is not permitted, and that any disregard for this warning would be met with a decisive response from the country’s armed forces.

As of the time of this report, no further details have been released regarding the extent of damage or possible casualties.

Earlier on Monday Commander of Khatam al-Anbiya Central Headquarters Major General Ali Abdollahi warned that any foreign armed forces — particularly the aggressive US military — will be attacked if they attempt to approach or enter the strategic Strait of Hormuz.

US President Donald Trump claimed in recent remarks that US will be “liberating the movement of ships in the Strait of Hormuz.”

He further claimed that these actions would begin this morning, Monday, according to Middle Eastern time.

Since February 28, when the US and Israel launched their military assault, Iran has blocked the Strait of Hormuz to oil and gas tankers affiliated with both regimes, as well as those cooperating with them, in an attempt to maintain security at the strategic waterway.



Source link

Continue Reading

Politics

Iran warns of ceasefire violation as US plans to escort Hormuz ships

Published

on

Iran warns of ceasefire violation as US plans to escort Hormuz ships


An LPG gas tanker at anchor as traffic is down in the Strait of Hormuz, amid the US-Israeli conflict with Iran, in Shinas, Oman, March 11, 2026. — Reuters
An LPG gas tanker at anchor as traffic is down in the Strait of Hormuz, amid the US-Israeli conflict with Iran, in Shinas, Oman, March 11, 2026. — Reuters 
  • Trump calls “Project Freedom” humanitarian gesture for stranded ships.
  • Iran chokes off major flows of oil, gas and fertiliser to world economy.
  • Over 900 commercial vessels present in Gulf, says maritime intel firm.

Iran warned on Monday that it would consider any US attempt to interfere in the Strait of Hormuz a breach of the Mideast ceasefire, as President Donald Trump said the United States would begin escorting ships through the blocked waterway.

Negotiations between the two countries have been deadlocked since a ceasefire came into effect on April 8, and Iran’s stranglehold on the strategic strait following US-Israeli attacks on Tehran has been a main point of contention.

Trump said Sunday the new maritime operation, which he dubbed “Project Freedom,” was a “humanitarian” gesture for crews aboard the many ships swept up in the blockade and which may be running low on food and other crucial supplies.

“We will use best efforts to get their Ships and Crews safely out of the Strait. In all cases, they said they will not be returning until the area becomes safe for navigation,” Trump said in a Truth Social post, noting operations would begin on Monday.

In response, the head of the Iranian parliament’s national security commission said: “Any American interference in the new maritime regime of the Strait of Hormuz will be considered a violation of the ceasefire.”

By blocking the Strait of Hormuz, Iran has choked off major flows of oil, gas and fertiliser to the world economy, while the United States has imposed a counter-blockade on Iranian ports.

Trump, in his post, said he was “fully aware that my Representatives are having very positive discussions with the Country of Iran, and that these discussions could lead to something very positive for all.”

He made no direct mention of what Tehran described as a 14-point plan “focused on ending the war.”

US Central Command said it would use guided-missile destroyers, over 100 land and sea-based aircraft, multi-domain unmanned platforms and 15,000 service members in the Hormuz effort.

As of April 29, more than 900 commercial vessels were located in the Gulf, according to maritime intelligence firm AXSMarine.

‘Impossible operation’

US news website Axios, citing two sources briefed on the proposal, reported that Iran set “a one-month deadline for negotiations on a deal to reopen the strait,” dissolve the US naval blockade and end the war.

Earlier Sunday, the Revolutionary Guards sought to put the onus back on Trump, saying he must choose between “an impossible operation or a bad deal with the Islamic Republic of Iran.”

Washington’s European allies are concerned that the longer the strait remains closed, the more their economies will suffer, and German Foreign Minister Johann Wadephul demanded that it be reopened.

In a call with his Iranian counterpart Abbas Araghchi, Wadephul stressed that Germany supported a negotiated solution but that “Iran must completely and verifiably renounce nuclear weapons and immediately open the Strait of Hormuz.”

Oil prices are currently about 50% above pre-conflict levels, largely due to the supply snarls in the strait.

‘Suffocating the regime’

The US president, who spent the weekend at his Mar-a-Lago resort in Florida, declined on Sunday to specify what could trigger new American military action.

But in his post he said that “if in any way, this Humanitarian (ship-guiding) process is interfered with, that interference will, unfortunately, have to be dealt with forcefully.”

Treasury Secretary Scott Bessent said the US naval blockade was only part of a broader economic embargo.

“We are suffocating the regime, and they are not able to pay their soldiers. This is a real economic blockade, and it is in all parts of government,” he told Fox News.

In yet more bellicose rhetoric, Mohsen Rezaei, a military adviser to Iran’s Supreme Leader Ayatollah Mojtaba Khamenei, said Iranian forces would sink US ships.

“The US is the only pirate in the world that possesses aircraft carriers. Our ability to confront pirates is no less than our ability to sink warships. Prepare to face a graveyard of your carriers and forces,” he posted on X.





Source link

Continue Reading

Trending