Business: The fourth round of Free Trade Agreement (FTA) talks between India and New Zealand were successfully concluded. Constructive and forward-looking discussions took place between the two sides for five days. Union Commerce and Industry Minister Piyush Goyal and New Zealand Trade Minister Todd McClay appreciated the steady progress made during this period. Also reaffirmed its commitment to work towards a modern, comprehensive and future-ready FTA.

Discussion took place on these important issues
During the discussion, important issues like trade in goods and services, economic cooperation and rules of origin were discussed. Both sides expressed a common commitment to further strengthen economic ties and develop mutually beneficial partnerships.

Both countries expressed commitment
Under the leadership of Prime Minister Modi, India reiterated its resolve for a deeper economic partnership to promote global prosperity and secure supply chains.

The ministers said the proposed FTA will increase trade flows between the two countries, strengthen investment ties, improve supply chain resilience and ensure better market access for businesses. Both countries committed to expeditiously complete this process and reach a balanced and mutually beneficial agreement.

Trade worth $1.3 billion between the two sides in fiscal year 2025
Let us tell you that in the financial year 2024-25, India’s bilateral trade with New Zealand stood at $ 1.3 billion. This represents an annual increase of 49 percent. The proposed FTA is expected to open up more opportunities in sectors such as agriculture, food processing, renewable energy, pharmaceuticals, education and services, creating new opportunities for both businesses and consumers.