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<\/p>\nThe Labour Party has confirmed it will support the India-NZ free trade deal, giving National and ACT the required numbers to pass it through Parliament.<\/p>\n
But Labour leader Chris Hipkins said he remained concerned about a commitment in the agreement to promote up to $20 billion (USD) of New Zealand private sector investment over 15 years.<\/p>\n
In a media conference at Parliament on Thursday, Hipkins said that target was “very unrealistic” and Labour would not have agreed to that in negotiations.<\/p>\n
“It is almost impossible for New Zealand to ever meet that target, and that is one of the things our exporters will need to be aware of,” he said.<\/p>\n
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Photo: RNZ \/ Samuel Rillstone\n<\/p>\n
“We’re not going to stop the agreement proceeding because of it, but businesses need to be aware that that is a risk to them.”<\/p>\n
Trade minister Todd McClay is set to fly to New Delhi over the long weekend to sign the agreement on Monday.<\/p>\n
However, New Zealand First’s firm opposition to the deal meant National and ACT required Labour’s support in order to pass legislation to enact parts of the agreement.<\/p>\n
Labour and National had been at an impasse for months over the extent of advice being shared about the deal.<\/p>\n
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\nIn a media conference at Parliament on Thursday, Hipkins said that target was “very unrealistic”.
\nPhoto: RNZ \/ Samuel Rillstone\n<\/p>\n
An array of exporters and business associations last week issued an open letter calling on all parties to support the deal<\/a>.<\/p>\n At the time, Hipkins said he was still waiting for the government to clarify some “issues and inconsistencies”.<\/p>\n