India-New Zealand Talks: Reviving Bilateral Trade Prospects

India and New Zealand held discussions to reinvigorate stalled trade talks, focusing on mutual economic growth. The nations have been negotiating a Comprehensive Economic Cooperation Agreement since 2010, but talks have stalled since 2013. Recent meetings aim to overcome trade decline and enhance cooperation.

India and New Zealand engaged in discussions on Monday, aiming to boost bilateral trade relationships between the nations.

The meeting saw India's Commerce and Industry Minister Piyush Goyal meet with New Zealand's Minister Todd McClay to explore paths for mutual growth, enhance trade ties, and strengthen economic partnerships, according to Goyal's social media post on X.

Despite prolonged negotiations on a Comprehensive Economic Cooperation Agreement, last convened in 2013, trade between the two countries has declined. Efforts are underway to address the decline from USD 1.02 billion in 2022-23 to USD 873.4 million in 2023-24, with key imports and exports balanced between forestry products and pharmaceuticals, among others.

(With inputs from agencies.)