Goyal with NZ trade minister Todd McClay in Auckland
AUCKLAND: After five days of talks in two cities, the fourth round of negotiations on the India-New Zealand Free Trade Agreement (FTA) concluded with both sides preparing the ground for a robust treaty. Commerce and industry minister Piyush Goyal and New Zealand minister for trade Todd McClay acknowledged the steady progress made during this round and reaffirmed their commitment to work towards a modern, comprehensive and future-ready FTA. 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,” an official statement said after the end of the talks. “India remains committed to forging deeper economic partnerships that contribute to global prosperity and secure supply chains,” the statement added. The minister 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. “The ongoing discussions reflect the shared resolve of both the nations to expedite the process and work towards an early, balanced and mutually advantageous conclusion of the agreement,” the statement added. India’s bilateral merchandise trade with New Zealand was estimated at $1.3 billion in FY 2024-25, marking year-on-year growth of nearly 49%. 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. “Both sides agreed to sustain momentum through inter-sessional work and continue detailed discussions across all chapters with a shared determination to move towards early convergence on the India-New Zealand FTA,” the statement said.
