Key Takeaways
- The India free trade deal has been rushed through for political gain, according to New Zealand First leader Winston Peters
- The deal includes significant wins for several industries, but only limited gains for the dairy sector
- Support from across the political aisle will be needed to pass the deal through Parliament, with Labour and the Green Party withholding support for now
- Te Pāti Māori is refusing to support the deal, citing lack of consultation with Māori and insufficient protections against corporate exploitation
- Peters believes that better terms could have been secured with longer negotiations and that the deal is "far too generous" to India
Introduction to the India Free Trade Deal
The India free trade deal, announced by Prime Minister Christopher Luxon and Trade Minister Todd McClay, has been met with criticism from various parties, including New Zealand First leader Winston Peters. Peters claims that the deal has been rushed through for political gain, and that more wins could have been secured with longer negotiations. The deal, which includes significant wins for several industries, but only limited gains for the dairy sector, will require support from across the political aisle to pass through Parliament.
Reactions from Opposition Parties
Labour is withholding support for the deal, with Trade spokesperson Damien O’Connor stating that meaningful access for the dairy sector must be the priority. O’Connor also criticized Luxon for committing to a deal with India as a campaign commitment in 2023, calling it "naive". The Green Party has also not been approached by the government for support and would want to see the full text of the agreement before making any commitment. Te Pāti Māori is refusing to support the deal, citing lack of consultation with Māori, insufficient protections against corporate exploitation, and too few wins for the dairy sector.
Peters’ Criticisms of the Deal
Peters told RNZ that the deal was "neither free, nor fair" and that it was rushed through for political purposes rather than economic advantage for New Zealand. He pointed out that Australia’s Free Trade Agreement and the UK free trade deal do not have the same conditions as the India deal, and questioned why New Zealand was subject to such conditions. Peters also emphasized that the deal is "far too generous" and that New Zealand’s market is already open to India, with no reciprocal benefits.
Concerns about the Dairy Sector
Peters highlighted the lack of wins for the dairy sector, which he believes could have been improved with longer negotiations. He noted that India’s level of production per cow is far too low compared to New Zealand, and that New Zealand could have helped India improve its dairy production while also profiting from the deal. Peters expressed confidence that better terms could have been secured with more time and effort, and that the deal as it stands is not in New Zealand’s best interests.
Implications for New Zealand’s Economy
The India free trade deal has significant implications for New Zealand’s economy, particularly in the dairy sector. With the deal requiring support from across the political aisle, it remains to be seen whether it will pass through Parliament. Peters’ criticisms of the deal highlight the need for careful consideration and negotiation in trade agreements, and the importance of prioritizing New Zealand’s economic interests. As the deal moves forward, it will be important to monitor its impact on New Zealand’s economy and to ensure that the country is getting a fair deal.
Conclusion
In conclusion, the India free trade deal has been met with criticism from various parties, including New Zealand First leader Winston Peters. The deal’s limited gains for the dairy sector and lack of consultation with Māori have raised concerns about its impact on New Zealand’s economy. As the deal moves forward, it will be important to carefully consider its implications and to ensure that New Zealand is getting a fair deal. With the deal requiring support from across the political aisle, it remains to be seen whether it will pass through Parliament, and what the ultimate outcome will be for New Zealand’s economy.
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