India, NZ plan to conclude early FTA, next round of talks in October

NEW DELHI: The third round of negotiations for the India-New Zealand Free Trade Agreement (FTA) concluded on Friday in Queenstown, with both sides vowing to conclude a deal.

The discussions reaffirmed the shared commitment of both nations to strengthen economic ties and work towards the early conclusion of a mutually beneficial agreement.

Against the backdrop of global trade tensions, India signed a string of crucial FTAs, including one with the UK, while negotiations are going on for an agreement with EU. Several other FTAs are in the pipeline, including a bilateral trade deal with the US.

PM Narendra Modi and Christopher Luxon, PM of New Zealand, both expressed their commitment and negotiations reflected a common resolve to deepen bilateral trade and investment, says an official statement. The FTA was launched on March 16 this year. The two countries decided to relaunch FTA negotiations after a 10-year gap.