India and New Zealand have officially resumed talks for a Free Trade Agreement (FTA), which had been stalled since 2015. The announcement was made by India's Ministry of Commerce on Monday, March 17.
The two nations have expressed their commitment to launching negotiations for a comprehensive and mutually beneficial India-New Zealand Free Trade Agreement (FTA), according to the statement released by the Ministry of Commerce.
Negotiations for the Comprehensive Economic Cooperation Agreement (CECA) initially began in April 2010, with the goal of boosting trade in goods, services, and investment. However, after nine rounds of discussions, the talks came to a halt in 2015. The recent resumption of talks marks a significant step forward in strengthening bilateral economic ties.
The announcement coincided with the four-day visit of New Zealand Prime Minister Christopher Luxon, who arrived in India on March 16. During this visit, India’s Commerce and Industry Minister Piyush Goyal met with Todd McClay, New Zealand's Minister for Trade and Investment, to discuss the progress of the FTA talks.
According to the statement, the India-New Zealand FTA negotiations aim to achieve balanced outcomes that enhance supply chain integration and improve market access for both nations.
This renewed focus on trade negotiations between India and New Zealand is expected to pave the way for stronger economic collaboration in the coming years.
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