In a major step towards expanding bilateral trade and investment engagement, the first round of negotiations for the India-New Zealand Free Trade Agreement (FTA) concluded successfully in New Delhi yesterday.
Commerce and Industry Ministry said, the first round followed a series of virtual discussions held between both partners which laid the groundwork for the in-person meeting. The Ministry said, constructive negotiations were held across all areas of FTA including Trade in Goods and Services, Trade Facilitation and mutually beneficial sectors of economic co-operation.
This engagement highlights the strategic importance both partners attach to building a mutually beneficial, balanced and a fair trade agreement. Both countries reaffirmed their common vision and mutual understanding to work towards a future ready framework and conclude the FTA this year. The next round will be held in July this year.
The bilateral trade relationship has seen a sharp upward trajectory in recent years. Total merchandise trade between the two countries has reached 1.3 billion US dollar in 2024-25, registering a strong growth of over 48 per cent over the previous financial year. The FTA is expected to further elevate trade and investment potential, improve supply chain integration, and foster a predictable and transformative trading environment for businesses on both sides.
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