India and New Zealand Chart New Course in Trade Relations

India and New Zealand are moving forward with a bilateral trade agreement, focusing on strengthening economic ties without compromising on sensitive issues. Both countries emphasize a sector-specific deal, ensuring interests are protected. The discussions, marked by warmth and respect, set the stage for a promising future partnership.

In a significant diplomatic move, India and New Zealand are advancing negotiations on a bilateral trade agreement. Union Commerce and Industry Minister Piyush Goyal emphasized the mutual determination to strengthen economic ties without compromising on sensitive issues.

Goyal, currently in New Zealand for talks, shared that the negotiations unfolded in a spirit of warmth and mutual respect. He emphasized the importance of enhancing bilateral relations, seeing mutual benefits for both countries.

Highlighting the strong intention on both sides to deepen ties, Goyal noted the significant time spent with New Zealand's Prime Minister Luxon and other officials, demonstrating the respect and importance accorded to India's presence.

Goyal underscored that the proposed Free Trade Agreement (FTA) would consider both nations' interests, focusing on enhancing trade while respecting sensitive areas. The agreement aims to create a beneficial trade deal, avoiding compromises on sensitive matters.

He further explained that both sides agreed from the outset to avoid sensitive topics, focusing instead on increasing trade opportunities. Goyal stressed that time should not constrain the agreement, which is aimed at a lasting partnership.

Despite differing timelines, the determination on both sides remains firm, with expectations of finalizing a beneficial deal. Total bilateral trade reached USD 1.75 billion in 2023-24, showing robust economic exchange.

(With inputs from agencies.)