India and New Zealand Embark on a New Era of Trade Relations

In a significant move to deepen economic ties, India and New Zealand have decided to relaunch negotiations for a comprehensive and mutually beneficial Free Trade Agreement (FTA) after a decade-long hiatus. Commerce and Industry Minister Piyush Goyal highlighted the vast potential for cooperation across various sectors, emphasizing the importance of mutual respect in navigating sensitive areas.

Exploring New Frontiers for Bilateral Growth

Prime Minister of New Zealand Christopher Luxon expressed optimism about the future of India-New Zealand relations, pointing out the significant opportunities for growth in bilateral trade, currently valued at $3 billion. Luxon stressed the need to explore new sectors where New Zealand holds a competitive advantage, signaling a game-changing relationship for both countries.

Both leaders called on business leaders from their respective countries to contribute towards achieving the goal of robust growth in bilateral trade over the next decade. The sectors identified for potential cooperation include agri-tech, dairy, food processing, pharmaceuticals, renewable energy, critical minerals, forestry, horticulture, tourism, and sports.