India and New Zealand have announced the launch of negotiations for a comprehensive and mutually beneficial Free Trade Agreement (FTA) negotiations. This significant step was marked by a meeting between Union Minister for Commerce and Industry Piyush Goyal and Minister for Trade and Investment of New Zealand Todd McClay in New Delhi on Sunday.
In a social media post, Mr Goyal said that this marks a significant milestone in the bilateral partnership, reflecting shared vision to deepen trade ties and expand economic opportunities between the two countries. He added that the bilateral trade continues to grow steadily and has surpassed one billion US dollars during April 2024 to January 2025.
The FTA negotiations aim to unlock new avenues for businesses and consumers, fostering mutual growth and prosperity of India and New Zealand. The negotiations are aimed at achieving balanced outcomes that enhance supply chain integration and improve market access. This milestone reflects a shared vision for a stronger economic partnership, fostering resilience and prosperity. India and New Zealand share a longstanding partnership founded on shared democratic values, strong people-to-people ties, and economic complementarities. Both countries have continuously worked towards building their bilateral relationship encompassing trade and investment.