India’s Commerce and Industry Minister, Piyush Goyal, said on Thursday that negotiations for a free trade agreement (FTA) between India and New Zealand are advancing, noting that the deal will be concluded soon.

“I believe this is a historic visit also because we are going to finalize the FTA very soon… we were negotiating critical issues, and we have made significant progress,” Goyal stated during his official visit to New Zealand from November 5 to 8.
“Talks will continue tomorrow also, and I hope to get a lot of work done. Therefore, I think we will get an FTA with New Zealand soon,” he added.

India’s merchandise exports to New Zealand reached $298.48 million during April–September, while imports stood at $302.5 million. Dairy and agricultural sectors remain politically sensitive for India. The two countries initiated trade agreement negotiations in April 2010, but discussions were put on hold in 2015.

The third round of talks for the agreement wrapped up on September 19 in Queenstown, New Zealand, with the fourth round currently underway. The proposed pact covers trade in goods and services, as well as investment. New Zealand Trade Minister Todd McClay stated that the agreement is expected to enhance trade between the two countries.

McClay remarked that the agreement will strengthen collaboration in sectors such as agricultural technology, science, and innovation, noting that the negotiations are progressing very well. He is also scheduled to visit India next week.

Goyal highlighted that the two countries are not competitors and emphasized that the bilateral trade agreement will benefit farmers, fishermen, and small businesses in both nations.

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