India, New Zealand launch FTA negotiations as PM Luxon arriv
India, New Zealand launch FTA negotiations as PM Luxon arrives in Delhi
India and New Zealand on Sunday announced the launch of negotiations for a comprehensive and mutually beneficial Free Trade Agreement (FTA) negotiations as New Zealand Prime Minister Christopher Luxon received a warm welcome as he arrived in Delhi
NEW DELHI — India and New Zealand on Sunday announced the launch of
negotiations for a comprehensive and mutually beneficial Free Trade Agreement
(FTA) negotiations.
The announcement came as New Zealand Prime Minister
Christopher Luxon received a warm welcome as he arrived in Delhi for his first
official visit to the country.
According to a statement by the Ministry of Commerce and
Industry, the significant step was marked by a meeting between Minister for
Commerce and Industry, Piyush Goyal, and Todd McClay, New Zealand's Minister
for Trade and Investment, laying the foundation for a momentous partnership
towards strengthening the economic and trade ties between the two countries.
Both the nations "share a longstanding partnership
founded on shared democratic values, strong people-to-people ties, and economic
complementarities", said the ministry.
Both countries have continuously worked towards building
their bilateral relationship encompassing trade and investment.
The India-New Zealand FTA negotiations aim to achieve
balanced outcomes that enhance supply chain integration and improve market
access. This milestone reflects a shared vision for a stronger economic
partnership, fostering resilience and prosperity.
Luxon, who will be in India until March 20, is accompanied
by a high-level delegation comprising ministers, senior officials, business
leaders, media representatives, and members of the Indian diaspora in New
Zealand.
During his visit, Luxon will hold talks with Prime Minister Narendra
Modi on March 17, focusing on various aspects of India-New Zealand relations.
Following their discussions, PM Modi will host a lunch in
his honour. Luxon will also call on President Droupadi Murmu on the same day.
Additionally, Luxon is set to 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 visit Mumbai to engage with Indian
business leaders and representatives from various sectors. He is scheduled to
depart for Wellington from Mumbai on March 20.
In 2023-24, New Zealand exported $0.84 billion of total
goods and services to India and imported $0.91 billion and a total trade value
of $1.75 billion.
