India, New Zealand Step Up Efforts Toward Balanced FTA To Strengthen Trade Ties

Mumbai, Nov 18 (KNN) India and New Zealand have advanced negotiations on the proposed Free Trade Agreement (FTA), with Commerce and Industry Minister Piyush Goyal meeting New Zealand’s Minister for Trade, Todd McClay in Mumbai.

Both Ministers discussed convergence across key areas related to trade in goods and services and noted that the latest negotiating round delivered substantive progress. 

Several elements have been concluded, and both sides reported a clearer understanding of the remaining issues needed to reach an early agreement.

India–New Zealand bilateral merchandise trade reached USD 1.3 billion in FY 2024–25, marking a nearly 49 per cent year-on-year increase. 

The Ministers said a comprehensive and balanced FTA would help accelerate trade, deepen investment links, and strengthen supply-chain resilience. 

They added that the agreement would also provide a transparent and predictable framework for businesses in both countries.

“We reaffirmed our shared commitment to an early, balanced agreement to unlock significant opportunities across a wide range of sectors, including services, innovation, and technology collaboration.” Goyal updated on X.

Both sides are expected to reconvene soon as negotiations enter an advanced phase aimed at delivering a modern and commercially meaningful agreement.

The FTA would improve market access for Indian MSMEs, particularly in services, manufacturing and agribusiness, enabling them to integrate more effectively into global value chains.

(KNN Bureau)