The first round of the India-New Zealand FTA in-person talks will start on Monday in New Delhi, as the two economies seek to ink a deeper financial partnership.
"Following significant engagement over the last month, the first in-person round of negotiations towards a comprehensive India-New Zealand Free Trade Agreement (FTA) will take place in India this week," NZ Trade Minister Todd McClay said in a government statement on Monday.
The formal launch came after New Zealand Prime Minister Christopher Luxon and McClay's visit to New Delhi in March and subsequent meetings with Commerce Minister Piyush Goyal.
“This is an important step in our trade relationship with India and signals the two governments' intent to deliver a high-quality outcome that benefits both countries,” McClay added.
“With a population of 1.4 billion and a GDP estimated to grow to $5.2 trillion by 2030, India offers significant opportunity for New Zealand exporters... Strengthening ties with India across the board is a key part of the government's broader strategy to diversify and grow New Zealand's export markets and double trade by value in 10 years, he said.
During NZ PM Luxon's visit, the two countries had stated that a 60-day timeline for the completion of talks is a possibility.
"Like with every FTA, there are a few areas of sensitivity, but that can be easily managed. Agriculture, food, dairy, critical minerals, forestry, tourism, sports, renewable energy, and education are some fields of common interest for us," Goyal had then said.
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