Did the Third Round of India-New Zealand FTA Conclude Successfully?
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Synopsis
The conclusion of the third round of negotiations for the India-New Zealand Free Trade Agreement marks a pivotal step in enhancing bilateral trade and investment ties. With constructive discussions leading to significant progress, both nations are poised for a mutually beneficial agreement. Stay tuned for further developments as the journey towards trade prosperity continues.
Key Takeaways
- Successful conclusion of third round of FTA negotiations.
- Significant progress made in various areas of the agreement.
- Next negotiations scheduled for October in New Delhi.
- Strong commitment from both nations to enhance economic ties.
- India's bilateral trade with New Zealand reached $1.3 billion.
New Delhi, Sep 19 (NationPress) The Indian government announced on Friday that the third round of negotiations for the India-New Zealand Free Trade Agreement (FTA) has successfully come to a close in Queenstown.
This round of discussions highlighted the commitment of both nations to enhance economic connections and strive for the prompt establishment of a balanced and mutually advantageous agreement, as stated by the Ministry of Commerce and Industry.
Taking place from September 15-19, the negotiations featured productive conversations covering all facets of the agreement. Multiple chapters were finalized, and notable advancements were made in other crucial areas.
Under the guidance of Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon, the discussions demonstrated a unified determination to enrich bilateral trade, investment, and economic collaboration.
The FTA was officially initiated on March 16 during a meeting between Union Commerce Minister Piyush Goyal and New Zealand’s Minister for Trade and Investment, Todd McClay.
In FY2024-25, India's bilateral merchandise trade with New Zealand reached $1.3 billion, marking an impressive growth of nearly 49 percent compared to the previous year.
This proposed FTA is anticipated to further enhance trade flows, foster investment connections, fortify supply chain resilience, and establish a reliable framework for businesses in both nations.
Both parties agreed to sustain the momentum through inter-sessional engagements.
The subsequent round of face-to-face negotiations is set to occur in New Delhi on October 13-14.
According to Goyal, India’s exports have seen a 6 percent rise in the first five months of the current fiscal year, and he expressed confidence that the year will conclude "on a positive note."
"Regarding exports, I have consistently asserted that India's exports are increasing each year, and I also expect a growth this year. Currently, we are observing an approximate growth of six percent compared to the same five months last year. I am very optimistic that we will close the year positively," stated the minister.
"Simultaneously, trade discussions are ongoing with the United States, the European Union, New Zealand, Chile, Peru, Oman, and several other nations," he added.
Point of View
It is essential to recognize the importance of the India-New Zealand FTA negotiations. This agreement represents a strategic effort to bolster economic ties, which ultimately benefits both nations. A successful conclusion to these talks is not only a testament to diplomatic relations but also a step towards greater global economic integration. Nation always prioritizes progress and prosperity.
NationPress
20/09/2025
Frequently Asked Questions
What was the outcome of the third round of FTA negotiations?
The third round concluded successfully, with significant progress made in various areas of the agreement.
When is the next round of negotiations scheduled?
The next round of in-person negotiations is set to take place in New Delhi on October 13-14.
What is the expected impact of the FTA?
The FTA is anticipated to boost trade flows, enhance investment linkages, and create a stable business environment for both countries.
