India–New Zealand FTA talks: Fourth negotiation round concludes on positive note; both sides target early, balanced pact

The fourth round of negotiations on the proposed India–New Zealand Free Trade Agreement (FTA) concluded successfully in Auckland and Rotorua after five days of discussions, according to a press release from the ministry of commerce and industry. Both sides reaffirmed their commitment to an early, balanced, and comprehensive trade pact aimed at enhancing bilateral economic cooperation. Union minister of commerce and industry Piyush Goyal and New Zealand’s minister for trade Todd McClay acknowledged the steady progress made during this round and expressed optimism about achieving a modern and future-ready agreement. The two delegations held detailed engagements on several key areas, including trade in goods and services, economic and technical cooperation, investment, and rules of origin, as per ANI.Guided by the leadership of Prime Minister Narendra Modi, India reiterated its goal of strengthening global supply chains and building deeper economic partnerships that promote inclusive and sustainable growth, as per the press release.The proposed FTA, both ministers noted, is expected to expand trade flows, deepen investment linkages, and improve market access for businesses in both countries.India’s bilateral merchandise trade with New Zealand stood at $1.3 billion in FY 2024–25, marking a 49% year-on-year increase. The pact is expected to further unlock potential in sectors such as agriculture, food processing, renewable energy, pharmaceuticals, education, and services.During his visit, Goyal also met business leaders from both countries and highlighted the strong cultural and economic ties between India and New Zealand. “We look forward to working towards the early conclusion of a balanced, comprehensive and mutually beneficial agreement, in line with the growing strategic and economic convergence between India and New Zealand,” he write on social media.While no specific timeline has been set, officials expect the FTA to be concluded early next year. McClay is likely to visit India next month to continue discussions. Dairy remains a sensitive area, but negotiators have narrowed their differences. Both sides also explored cooperation in new areas, including tourism, technology, space, sports and education.