India, New Zealand launch negotiations on FTA

India and New Zealand on Sunday launched negotiations for a "comprehensive and mutually beneficial" free trade agreement, paving the way for a second bilateral trade deal in the Oceania after concluding an FTA pact with Australia in April 2022.

- Rajeev Jayaswal

NEW DELHI:

"We are delighted to announce the launch of India-New Zealand Free Trade Agreement (FTA) negotiations. This marks a significant milestone in our partnership, reflecting our shared vision to deepen trade ties and expand economic opportunities," commerce minister Piyush Goyal said in a post on X.

With bilateral trade continuing to grow steadily, surpassing $1 billion during April-January 2025, the FTA negotiations aim to unlock new avenues for businesses and consumers, fostering mutual growth and prosperity of our nations, he said after a meeting with New Zealand's trade and investment minister Todd McClay in New Delhi. The announcement came on the eve of the bilateral meeting between Prime Minister Narendra Modi and New Zealand PM Christopher Luxon.