The upcoming free trade agreement between India-New Zealand, signed on April 27, is expected to significantly strengthen cooperation in the healthcare sector, with a focus on pharmaceuticals, medical devices and skilled workforce exchange.
A key highlight of the pact is faster regulatory access for Indian pharmaceutical and medical device companies in New Zealand. The agreement allows acceptance of inspection reports under Good Manufacturing Practice (GMP) and Good Clinical Practice (GCP) from globally recognised regulators such as the US Food and Drug Administration, European Medicines Agency, and Medicines and Healthcare products Regulatory Agency. This move is expected to reduce duplication in inspections, lower compliance costs, and accelerate approvals, thereby boosting Indian exports in the healthcare segment.
The deal also enhances mobility for healthcare professionals by introducing a temporary employment visa pathway. New Zealand will offer up to 5,000 visas annually, valid for up to three years, covering sectors such as healthcare, alongside IT, engineering, and education. This is likely to open new opportunities for Indian healthcare workers and allied professionals.
In addition, the agreement includes provisions that improve regulatory cooperation and streamline sanitary and phytosanitary measures, which are critical for ensuring quality standards in medical and health-related products.
Overall, the FTA is expected to deepen bilateral collaboration in healthcare, improve market access for Indian pharma companies, and facilitate the movement of skilled professionals between the two countries.