India and New Zealand Conclude Initial Talks on Landmark Free Trade Agreement

New Delhi [

India

On May 10 (ANI), as part of significant efforts to boost bilateral trade and investment ties, the initial negotiation rounds commenced for the

India

–

New Zealand

Free Trade Agreement (

FTA

The event concluded successfully on Friday in Delhi. The discussions took place from May 5-9, as stated officially by the Ministry of Commerce & Industry.

This advancement reinforces the mutual pledge to enhance economic relationships and follows the guidelines provided by Prime Minister Narendra Modi during Christopher Luxon’s visit as Prime Minister.

New Zealand

In March, the statement was augmented.

The

FTA

It was introduced during the gathering between

Piyush Goyal

, Minister of Commerce and Industry, and Todd McLay, Minister for Trade and Investment,

New Zealand

on March 16.

The initial round came after several online discussions between the parties, setting the stage for their face-to-face meeting. Productive talks took place covering every area of discussion.

FTA

Including trade in goods and services, trade facilitation, and mutually advantageous areas of economic cooperation. This collaboration underscores the significance that both parties place on establishing an equitable, reciprocal, and beneficial trade deal.

The trade partnership between the two nations has experienced a significant rise recently. In the fiscal year 2024-25, their total goods exchange amounted to $1.3 billion, marking an impressive increase of 48.6 percent compared to the prior fiscal year.

This highlights the increasing potential of the

India

–

New Zealand

Economic Partnership. The

FTA

Is anticipated to boost trade and investment opportunities, enhance supply chain coordination, and create a stable and revolutionary trading atmosphere for enterprises on either side, according to the statement.

Both nations confirmed their shared vision and mutual comprehension to collaborate for a forward-looking framework and finalize the details.

FTA

This year. The subsequent round will take place in July 2025.

As

India

Gradually expanding its presence via various trade accords, this iteration underscores a strong dedication to bolstering economic collaborations that align with both national objectives and international ambitions. (ANI)