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.
Moreover, the discussions reaffirmed both nations’ commitment to strengthen economic ties and move toward a balanced and mutually beneficial agreement, according to the Ministry of Commerce and Industry.
Held from September 15–19, the third round witnessed constructive exchanges across all areas of the agreement. Furthermore, negotiators closed several chapters and achieved significant progress in other key domains.
Guided by the vision of Prime Minister Narendra Modi and his New Zealand counterpart Christopher Luxon, the talks clearly reflected a shared resolve to deepen bilateral trade, investment, and economic cooperation.
In fact, Union Commerce Minister Piyush Goyal and New Zealand’s Minister for Trade and Investment, Todd McClay, had formally launched the FTA earlier on March 16.
Meanwhile, 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.
Officials believe the proposed FTA will not only boost trade flows but also promote investment, strengthen supply chains, and create a predictable framework for businesses in both countries.
Consequently, both sides agreed to maintain momentum through inter-sessional engagements. The next round of in-person negotiations is scheduled in New Delhi on October 13–14.
According to Goyal, India’s exports recorded 6 per cent growth in the first five months of the current financial year. Therefore, he expressed confidence that the year would 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 them to rise. Currently, we see about six per cent growth compared to the same period last year. I am very confident we will end the year positively,” the minister said.
In addition, he noted that India continues trade talks with the United States, the European Union, New Zealand, Chile, Peru, Oman, and several other countries.
–IANS
