India, New Zealand begin FTA talks as PM Luxon arrives in Delhi
text_fields
New Zealand PM Christopher Luxon arrives in New Delhi for his first official visit, received by MoS S. P. Singh Baghel at the airport.
New Delhi: India and New Zealand have officially launched negotiations for a comprehensive Free Trade Agreement (FTA), marking a significant step in strengthening bilateral economic ties. The announcement coincided with New Zealand Prime Minister Christopher Luxon’s arrival in Delhi for his first official visit to India.
According to the Ministry of Commerce and Industry, the decision to initiate FTA negotiations was formalized during a meeting between India's Commerce and Industry Minister Piyush Goyal and New Zealand’s Trade and Investment Minister Todd McClay. The agreement is expected to enhance supply chain integration and improve market access, fostering a stronger economic partnership between the two nations.
India and New Zealand share a deep-rooted relationship based on democratic values, strong people-to-people ties, and economic complementarities. Over the years, both countries have worked towards expanding trade and investment cooperation, and the FTA negotiations mark a major milestone in this effort.
Prime Minister Luxon, who will be in India until March 20, is leading a high-level delegation comprising ministers, senior officials, business leaders, media representatives, and members of New Zealand’s Indian diaspora.
On March 17, Luxon will hold discussions with Prime Minister Narendra Modi on various aspects of India-New Zealand relations. Following their talks, PM Modi will host a luncheon in his honour. Luxon is also scheduled to meet President Droupadi Murmu on the same day.
As part of his visit, Luxon will attend the inaugural session of the 10th Raisina Dialogue 2025 on March 17 as the chief guest, where he will deliver the keynote address.
On March 19-20, he will travel to Mumbai to engage with Indian business leaders and representatives from various sectors. He will depart for Wellington from Mumbai on March 20.
In 2023-24, New Zealand exported goods and services worth $0.84 billion to India, while its imports from India stood at $0.91 billion, bringing the total trade value between the two nations to $1.75 billion.
With IANS inputs