Amid the ongoing tariff tensions with the US, India is moving forward on a free trade agreement with New Zealand. India and New Zealand on Friday completed the fourth round of talks for a proposed free trade agreement (FTA). Both sides agreed to work towards finalizing it soon.
Union Minister Piyush Goyal gave information on
Commerce and Industry Minister Piyush Goyal arrived here to review the progress of these talks with his New Zealand counterpart, Trade and Investment Minister Todd McLay. Goyal wrote on social media that the fourth round of India-New Zealand FTA talks focused on goods market access, services, economic and technological cooperation and investment opportunities. “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 said.
Expanding trade with New Zealand
During the three-day visit, Goyal also held meetings with industry leaders to discuss measures to promote trade and investment. He said on November 6 that negotiations were progressing rapidly and expressed hope that a free trade agreement would be finalized soon. Negotiations on a free trade agreement (FTA) formally began on March 16, 2025. India’s bilateral merchandise trade with New Zealand was worth $1.3 billion in the financial year 2024-25, which is about 49 percent more than the previous year. New Zealand’s average import duty is only 2.3 percent. In a free trade agreement, two countries either significantly reduce or eliminate customs duties on most goods traded between them. They also simplify norms to promote trade in goods and services.
