India-New Zealand FTA Talks Back on Track After 10 Years
Source: dairynews.today
India and New Zealand have resumed negotiations for a free trade agreement aimed at boosting mutual economic growth, after discussions stalled in 2015.
India and New Zealand have rekindled their negotiations for a free trade agreement (FTA) that had previously been stalled since 2015, primarily due to differences in dairy and agricultural sectors.
This renewal of talks aims to enhance trade, services, and investments between the two nations, fostering economic growth on both sides.
As of FY25, Indian goods exports to New Zealand reached $494.44 million. Discussions had initially started in April 2010 for a Comprehensive Economic Cooperation Agreement (CECA) but came to a halt after nine rounds by 2013.
The revival of talks was announced just before a bilateral meeting between Indian Prime Minister Narendra Modi and New Zealand's Prime Minister Christopher Luxon. Commerce and Industry Minister Piyush Goyal and New Zealand’s Trade Minister Todd McClay highlighted the potential for increased market access and supply chain integration through these negotiations.
In the previous fiscal period, bilateral trade exceeded $1 billion, with significant exports from India including pharmaceuticals and textiles.
However, New Zealand's interest in accessing the Indian dairy market remains a contentious topic, given India’s protective stance over its domestic dairy industry.
This renewal of talks aims to enhance trade, services, and investments between the two nations, fostering economic growth on both sides.
As of FY25, Indian goods exports to New Zealand reached $494.44 million. Discussions had initially started in April 2010 for a Comprehensive Economic Cooperation Agreement (CECA) but came to a halt after nine rounds by 2013.
The revival of talks was announced just before a bilateral meeting between Indian Prime Minister Narendra Modi and New Zealand's Prime Minister Christopher Luxon. Commerce and Industry Minister Piyush Goyal and New Zealand’s Trade Minister Todd McClay highlighted the potential for increased market access and supply chain integration through these negotiations.
In the previous fiscal period, bilateral trade exceeded $1 billion, with significant exports from India including pharmaceuticals and textiles.
However, New Zealand's interest in accessing the Indian dairy market remains a contentious topic, given India’s protective stance over its domestic dairy industry.
