New Delhi : The government on Friday announced that the third round of negotiations for the India-New Zealand Free Trade Agreement (FTA) concluded successfully in Queenstown.
Both nations reaffirmed their shared commitment to strengthen economic ties and work toward an early conclusion of a balanced and mutually beneficial agreement, the Ministry of Commerce and Industry stated.
The third round, held from September 15–19, featured constructive discussions across all areas of the agreement. Delegates concluded several chapters and made significant progress in other key domains.
Guided by the vision of Prime Minister Narendra Modi and New Zealand counterpart Christopher Luxon, negotiators demonstrated a common resolve to deepen bilateral trade, investment, and economic cooperation.
The FTA formally launched on March 16, when Union Commerce Minister Piyush Goyal met New Zealand’s Minister for Trade and Investment, Todd McClay.
India’s bilateral merchandise trade with New Zealand reached $1.3 billion in FY2024–25, marking nearly 49 per cent growth over the previous year.
The proposed FTA will further boost trade flows, promote investment linkages, strengthen supply chain resilience, and provide a predictable framework for businesses in both countries.
Both sides agreed to maintain momentum through inter-sessional engagements.
The next round of in-person negotiations will take place in New Delhi on October 13–14.
According to Goyal, India’s exports grew 6 per cent in the first five months of the current financial year, and he expressed confidence that the year will end on a positive note.
“As far as exports are concerned, I have consistently said that India’s exports are growing every year, and this year too, I expect exports to grow. Currently, we see growth of about six per cent compared to the corresponding five months of last year. I am very confident that we will end the year on a positive note,” the minister said.
“At the same time, trade talks continue with the United States, the European Union, New Zealand, Chile, Peru, Oman, and several other countries,” he added.
–IANS
