|
Union Minister of Commerce and Industry Piyush Goyal held talks with New Zealand's Minister of Trade and Investment Todd McClay to explore ways to advance negotiations on the proposed Free Trade Agreement (FTA) for the mutual benefit of both countries. The focus of the discussion remained on moving the talks forward and maintaining momentum.
Sharing details of the meeting on X, Goyal said, "Held an engaging meeting with my friend & New Zealand's Minister of Trade and Investment, Todd McClay. We discussed key aspects of the India-New Zealand FTA and explored ways to advance the negotiations for the mutual benefit of both countries." Earlier in November, the fourth round of negotiations on the India-New Zealand Free Trade Agreement (FTA) concluded in Auckland and Rotorua after five days of constructive, forward-looking discussions between the two sides. Piyush Goyal and Todd McClay acknowledged the steady progress made during the round. They reaffirmed their commitment to work towards a modern, comprehensive, and future-ready FTA, according to a press release by the Commerce Ministry. Both delegations held detailed engagements across key tracks, including trade in goods, trade in services, economic and trade cooperation, and rules of origin. The discussions reflected the shared ambition to strengthen economic ties and build a mutually beneficial partnership that supports resilient, inclusive, and sustainable growth. India remains committed to forging deeper economic partnerships that contribute to global prosperity and secure supply chains. The Ministers noted that the proposed FTA is expected to significantly enhance trade flows, deepen investment linkages, strengthen supply-chain resilience, and provide greater predictability and market access for businesses in both countries. India's bilateral merchandise trade with New Zealand stood at USD 1.3 billion in FY 2024-25, up nearly 49 per cent year-on-year. The proposed FTA is expected to unlock further potential in sectors such as agriculture, food processing, renewable energy, pharmaceuticals, education, and services, creating new opportunities for businesses and consumers alike. The Ministry's release further stated that both sides agreed to sustain momentum through inter-sessional work and to continue detailed discussions across all chapters, with a shared determination to move towards early convergence on the India-New Zealand Free Trade Agreement. (ANI)
|
