New Delhi: India and New Zealand on Friday successfully concluded the fourth round of negotiations for the proposed Free Trade Agreement (FTA) and reaffirmed their commitment to work towards its early finalisation. The latest discussions reflect growing bilateral engagement and shared economic priorities between the two Indo-Pacific nations.
Focus on Goods, Services, and Investment Cooperation
Commerce and Industry Minister Piyush Goyal was in New Zealand to review the progress of negotiations with his counterpart Todd McClay.
According to Goyal, the latest round focused on goods market access, services, economic and technical 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,”
Goyal said in a social media post following the discussions.
Read also: India-EFTA Trade Pact Unlocks $100 Billion Investment & 1 Million Jobs | TEPA 2025
Talks Progressing Steadily Since March 2025
The FTA negotiations were formally launched on March 16, 2025, marking the revival of trade dialogue between the two countries after nearly a decade. India and New Zealand had previously engaged in nine rounds of discussions between 2010 and 2015, but talks were suspended due to differences in trade priorities.
During his three-day visit, Goyal also met with several New Zealand business leaders, including Carmen Vicelich (CEO, Valocity), Ranjay Sikka (CEO, Slumberzone), and Nathan Guy (Chairman, Meat Industry Association). The meetings focused on exploring collaboration in agriculture, tourism, education, technology, gaming, sports, and drone innovation.
Growing Bilateral Trade and Emerging Sectors
India’s bilateral merchandise trade with New Zealand reached USD 1.3 billion in 2024–25, registering an impressive 49 percent growth over the previous year.
New Zealand’s average import tariff currently stands at just 2.3 percent, making it a promising trade partner for Indian exporters.
Given India’s recent achievements in space exploration, both sides also identified space cooperation as a potential area for future collaboration.
Key Exports and Imports
India’s major exports to New Zealand include textiles, medicines, refined petroleum, agricultural machinery, iron and steel products, electronics, shrimps, diamonds, and basmati rice.
On the other hand, India imports agricultural goods, kiwifruit, apples, lamb and mutton, dairy products, coal, timber, wool, and scrap metals from New Zealand.
Next Stop: Australia
After concluding his visit to New Zealand, Minister Piyush Goyal is scheduled to travel to Australia, where negotiations are ongoing for the second tranche of the India-Australia Free Trade Agreement.
The first phase of the pact came into effect in December 2022, paving the way for deeper economic integration between the two nations.
