India-New Zealand deal likely soon: Piyush Goyal

The proposed India-New Zealand free trade agreement (FTA) has the potential to eventually boost bilateral trade between the two countries 10-fold to $20 billion, the New Zealand trade minister said after jointly reviewing the progress of ongoing FTA negotiations with Union commerce minister Piyush Goyal, who said bilateral talks have made “significant progress” and may see a positive outcome soon.

- Rajeev Jayaswal

Union commerce minister Piyush Goyal

(PTI)

“I believe this is a historic visit also because we are going to finalise the FTA very soon,” Goyal said at a function immediately after reviewing the progress of negotiations along with New Zealand trade minister Todd McClay on Thursday. Both ministers were speaking at a reception while celebrating 150 years of ‘Vande Mataram’ with the Indian diaspora.

Speaking at the event, McClay said: “We're working hard to strike a deal. It will give real opportunity to all Indians businesses in New Zealand and New Zealand businesses, who are interested in working together in India.”