Blitz Bureau
NEW DELHI: THE first round of negotiations for the India–New Zealand Free Trade Agreement (FTA) has concluded successfully. The talks, held from May 5 to May 9, represent a significant milestone in the growing economic relations between the two nations, reported DD News.
The initiative builds on the visit of New Zealand Prime Minister Christopher Luxon to India in March 2025, where he and Prime Minister Narendra Modi discussed expanding economic cooperation. The FTA was formally launched during a meeting on March 16, 2025, between, Minister of Commerce and Industry Piyush Goyal and New Zealand’s Minister for Trade and Investment Todd McClay.
Prior to the in-person talks, both countries held a series of virtual discussions to lay the groundwork for the negotiations. The first round of faceto-face talks covered a wide range of crucial areas, including Trade in Goods and Services, Trade Facilitation, and mutually beneficial sectors of economic cooperation. These constructive discussions underline the strategic importance both nations place on creating a balanced, fair, and mutually advantageous trade agreement.
First round covered wide range of crucial areas
The two sides focused on creating a framework that will not only boost trade but also address the changing global economic landscape. The FTA negotiations are designed to foster a more robust and predictable trading environment, enhancing economic cooperation and fostering deeper ties between the two nations.
The bilateral trade relationship between India and New Zealand has witnessed a remarkable growth trajectory in recent years. Merchandise trade between the countries reached an impressive $ 1.3 billion in the financial year 2024–25, marking a strong year-on-year growth of 48.6%. This surge in trade underscores the growing potential of the India-New Zealand economic partnership.
The FTA is expected to further elevate this partnership by improving supply chain integration, reducing trade barriers, and enhancing business opportunities on both sides. It will provide a solid framework for fostering cross-border investment, creating new avenues for businesses, and aligning trade policies with global aspirations.
Both countries have reaffirmed their mutual understanding and commitment to working towards a futureready framework and aim to conclude the FTA by the end of this year. The second round of negotiations will take place in July 2025, with both sides aiming to build on the progress made in the first round.