New Milestone: India and New Zealand Close in on FTA Deal

Commerce and Industry Minister Piyush Goyal expressed optimism on Thursday regarding the swift progress in free trade agreement (FTA) negotiations between India and New Zealand. During his four-day visit, Goyal met with New Zealand counterpart Todd McClay to review negotiation advancements, signaling finalization soon.

The proposed FTA, set to elevate bilateral trade beyond the current USD 1.5 billion, aims to bolster areas like agri technology, science, and innovation. Both nations view this agreement as a means to enhance economic cooperation through the reduction of customs duties and trade norms.

The bilateral meetings in Auckland focus on key economic aspects such as trade in goods and services. Presently, Indian exports to New Zealand include textiles and medical supplies, while imports consist of agricultural products and natural resources. Once finalized, the FTA is expected to fortify trade and investment connections between the two countries.