The third round of negotiations for the India-New Zealand Free Trade Agreement (FTA) concluded on Friday in Queenstown, New Zealand, marking significant progress toward a balanced and mutually beneficial trade pact. The talks, held from September 15 to 19, focused on deepening economic ties, with several chapters finalized and substantial advancements in key areas.
The FTA, launched on March 16, during a meeting between Union Commerce and Industry Minister Piyush Goyal and New Zealand’s Trade and Investment Minister Todd McClay, is guided by the vision of Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon. The agreement aims to enhance bilateral trade, investment, and economic cooperation.
Bilateral merchandise trade between India and New Zealand reached USD 1.3 billion in FY 2024-25, reflecting a robust 49 percent growth from the previous year. The proposed FTA is expected to further accelerate trade, strengthen supply chains, and provide a predictable framework for businesses in both nations.
To sustain momentum, both sides agreed to continue discussions through inter-sessional engagements. The next round of in-person negotiations is scheduled for October 13-14, in New Delhi.