India-New Zealand achieve progress on trade, investment, and economic cooperation during 2nd round of FTA talks

New Delhi [India], July 26 (ANI): The second round of India-New Zealand Free Trade Agreement Negotiations, which concluded in New Delhi, made significant advancements in multiple areas, including trade in goods and services, investment, rules of origin, customs procedures and trade facilitation, technical barriers to trade, sanitary and phytosanitary measures, and economic cooperation.
According to a release by the Ministry of Commerce & Industry, discussions were marked by mutual interest in achieving early convergence on several texts. Both sides reaffirmed their commitment to concluding a balanced, comprehensive, and forward-looking agreement.
The Second Round of negotiations for the India-New Zealand Free Trade Agreement (FTA) concluded successfully on July 25 in New Delhi, further advancing the shared objective of strengthening bilateral trade and economic partnerships.
The Ministry stated that this development catalyses the shared commitment to deepen economic ties, as guided by the Prime Minister of India, Narendra Modi, during the visit of Christopher Luxon, Prime Minister of New Zealand, in March 2025.
The FTA was launched during the meeting between Union Minister of Commerce and Industry, Piyush Goyal and Todd McClay, Minister for Trade and Investment, Government of New Zealand, on March 16, 2025.
The Third Round of negotiations is scheduled to be held in New Zealand in September 2025. The intersessional virtual meetings will maintain the forward trajectory set in the second round.
According to government data, India's bilateral merchandise trade with New Zealand reached USD 1.3 billion in FY 2024-25, recording a 48.6 per cent growth over the previous financial year, signalling the growing potential of the economic partnership.
The FTA is expected to enhance trade flows, support investment linkages, promote supply chain resilience, and establish a predictable and enabling environment for businesses in both countries.
Free Trade Agreements (FTAs) are treaties between two or more countries to reduce or eliminate trade barriers such as tariffs, quotas, and import restrictions on goods and services. These agreements aim to promote economic integration, increase market access, and enhance cooperation between nations. (ANI)