Did India and New Zealand Successfully Wrap Up 2nd Round of FTA Negotiations?
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Synopsis
The successful conclusion of the second round of negotiations for the India-New Zealand Free Trade Agreement marks a significant milestone in deepening economic ties. With the third round scheduled for September, both nations are committed to advancing their trade relationship and achieving comprehensive agreements.
Key Takeaways
- Successful conclusion of the second round of FTA negotiations.
- Third round scheduled for September in New Zealand.
- Significant progress in Trade in Goods and Services and Investment.
- Bilateral trade reached $1.3 billion, marking a 48.6% increase.
- Commitment to a balanced, comprehensive agreement.
New Delhi, July 25 (NationPress) The government announced on Friday that the second round of discussions for the India-New Zealand Free Trade Agreement (FTA) has concluded successfully in the national capital, marking a significant step towards enhancing bilateral trade and economic cooperation.
The upcoming third round of negotiations is slated to take place in New Zealand this September. Intersessional virtual meetings are expected to sustain the progress achieved in the second round, as stated by the Commerce Ministry.
Building on the momentum initiated during the initial round in May in New Delhi, the second round of talks took place from July 14 to July 25.
This session made considerable progress across various domains, including Trade in Goods and Services, Investment, Rules of Origin, Customs Procedures, Trade Facilitation, Technical Barriers to Trade, Sanitary and Phytosanitary Measures, and Economic Cooperation.
Discussions were characterized by a mutual desire to reach early consensus on multiple texts. Both parties reaffirmed their dedication to finalizing a balanced, comprehensive, and forward-thinking agreement.
This progress aligns with the shared commitment to enhance economic connections, as guided by Prime Minister Narendra Modi during the March visit of New Zealand Prime Minister Christopher Luxon.
India’s bilateral merchandise trade with New Zealand reached $1.3 billion in FY2024-25, reflecting a remarkable growth of 48.6% compared to the prior financial year, underscoring the increasing potential of this economic partnership.
The FTA is anticipated to bolster trade flows, facilitate investment linkages, enhance supply chain resilience, and create a predictable and supportive environment for businesses in both nations.
The initiative was launched during a meeting between Commerce Minister Piyush Goyal and New Zealand's Minister for Trade and Investment Todd McClay on March 16.
Point of View
It is crucial to recognize the importance of the India-New Zealand Free Trade Agreement in fostering economic ties. This initiative not only signifies enhanced trade relations but also demonstrates a commitment to mutual growth and cooperation in an ever-evolving global landscape.
NationPress
26/07/2025
Frequently Asked Questions
What was the outcome of the second round of FTA negotiations?
The second round concluded successfully, advancing bilateral trade and economic partnerships.
When is the next round of negotiations scheduled?
The third round is scheduled to take place in New Zealand in September.
What areas were discussed during the negotiations?
Key areas included Trade in Goods and Services, Investment, Customs Procedures, and Economic Cooperation.
How has trade between India and New Zealand changed recently?
Bilateral merchandise trade reached $1.3 billion in FY2024-25, a 48.6% increase from the previous year.
Who were the key figures involved in launching the FTA?
The FTA was launched during a meeting between Commerce Minister Piyush Goyal and New Zealand's Minister Todd McClay.
