India, New Zealand make steady progress in FTA

Auckland: India and New Zealand had detailed engagements across key tracks, including trade in goods, trade in services, economic and trade cooperation, and rules of origin in the fourth round of talks for their proposed free trade agreement (FTA), the government said on Saturday.

Commerce and industry minister Piyush Goyal met New Zealand trade minister Todd McClay, wherein they acknowledged the "steady progress" made during this round. Goyal was on a visit to New Zealand from November 5 to 7 to review the progress of the FTA negotiations. McClay is expected to visit India next week.

"The proposed FTA is expected to unlock further potential in sectors such as agriculture, food processing, renewable energy, pharmaceuticals, education, and services, creating new opportunities for businesses and consumers alike," the commerce and industry ministry said in a statement.


The fourth round of negotiations concluded Saturday in Auckland and Rotorua, following five days of constructive and forward-looking discussions between the two sides, according to the statement.

Dairy and agriculture are politically sensitive areas for India but Goyal said India and New Zealand can cooperate in the area of farming such as dairy machinery, after which mini dairies can be set up. As per the statement, the two sides agreed to sustain momentum through inter-sessional work and continue detailed discussions across all chapters with a shared determination to move towards early convergence on the India-New Zealand free trade agreement.