Mike's Minute: The most important thing the Govt has done this term
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Why does Mike say the India free‑trade agreement is the most important government action this term?
For all the opprobrium heaped on the National Party for their rub supermarket call of late, the old National Party was out yesterday finalizing the India trade deal. See, of all the things this government has done in this first term, the FTA with India may well be the most important. It will last forever, it will grow, it will become an increasingly important part of our economic story. It's been made more important, of course, because for years it couldn't be done. Apparently. Couldn't be done. Got knocked back so
What historical obstacles kept the India FTA from being signed and how were they finally overcome?
So often governments kind of gave up. It became a bit too hard. Maybe they got stuck on the dairy, but when you're stuck, the trick is to look around the issues, not get bogged down by them. The downside, of course, is some couldn't see all this upside because of racism, they didn't vote for it, but plenty did, which means New Zealand broadly is still a middle of the road kind of country and interested into tapping into those markets globally that show the most promise. Now India represents the latest example of the first. Of what this country does. We grow and make stuff and sell it to the world, and we are not about quantity, we are about quality.
How does the India deal compare to trade with China, the US, Russia and the EU?
And the growing middle class is all about quality, of course. It's why our wine sales are still growing and Australia's aren't. But for those who think India is a mistake, who is it you'd rather trade with, eh? China. China was contentious, but we got past that for over two decades. Now it's done nothing but provide work and income for thousands of us, if not tens of thousands of us. We d
Why does Mike argue that New Zealand’s future growth hinges on the India partnership?
don't and won't get a deal with the Americans. Uh they're not free traders. So population wise, who's left in the world, eh? Russia. They don't even have an economy. Yes, the EU, but it's a half billion person collective with all the baggage that goes with it. And yes, we have a deal.
What does signing the India FTA mean for New Zealand’s long‑term economic outlook?
But I bet you anything you want, our EU deal won't grow like the India deal will. India is the standout growth story for the next decade and beyond. For us not to be part of that. would have been a crime. To sign what we have is a down payment basically on a better future. For more from the Mike Asking Breakfast, listen live to News Talks Ed B from 6 a.m. weekdays, or follow the podcast on iHeartRadio.
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Chapters
5 chapters
1
Why does Mike say the India free‑trade agreement is the most important government action this term?
0:00–0:25
2
What historical obstacles kept the India FTA from being signed and how were they finally overcome?
0:25–0:56
3
How does the India deal compare to trade with China, the US, Russia and the EU?
0:56–1:15
4
Why does Mike argue that New Zealand’s future growth hinges on the India partnership?
1:15–1:30
5
What does signing the India FTA mean for New Zealand’s long‑term economic outlook?
1:30–1:53
Speakers
1 identifiedMore from The Mike Hosking Breakfast
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