India and New Zealand to launch negotiations on Free Trade Agreement
| 2025-03-17
Indian Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon hold delegation-level talks in New Delhi on March 17, 2025.
A comprehensive trade agreement offers a significant opportunity to enhance trade and economic cooperation, according to PM Modi and New Zealand PM Luxon
India and New Zealand have decided to launch negotiations on a mutually beneficial Free Trade Agreement (FTA). The matter figured during discussions between Prime Minister Narendra Modi and his New Zealand counterpart, Christopher Luxon, in New Delhi on Monday (March 17, 2025)
According to the Joint Statement issued after their meeting, the Prime Ministers welcomed the launch of FTA negotiations for a balanced, ambitious, comprehensive, and mutually beneficial trade agreement to achieve deeper economic integration. The Leaders agreed that a comprehensive trade agreement offers a significant opportunity to enhance trade and economic cooperation.
By leveraging each country's strengths, addressing their respective concerns, and tackling challenges, a bilateral trade agreement can foster mutually beneficial trade and investment growth, ensuring equitable gains and complementarities for both sides. The Leaders committed to designate senior representatives to steer these negotiations to resolution as soon as reasonably possible, the Joint Statement added.
The decision to begin negotiations on the FTA was announced after a meeting between India's Minister for Commerce and Industry Piyush Goyal and New Zealand's Minister for Trade and Investment Todd McClay on Sunday (March 16, 2025). This lays the foundation of “a momentous partnership” towards strengthening the economic and trade ties between the two countries, India's Ministry for Commerce and Industry said.
The India-New Zealand FTA negotiations aim to achieve balanced outcomes that enhance supply chain integration and improve market access. This milestone reflects a shared vision for a stronger economic partnership, fostering resilience and prosperity, the ministry noted.
Prime Minister Luxon highlighted the development through a post on social media platform X.
“ANNOUNCEMENT: I’ve arrived in Delhi and I’m glad to announce that New Zealand and India have agreed to launch negotiations on a comprehensive free trade agreement.
It is through trade that we can boost the economies of both our countries, providing more jobs and higher incomes for Kiwis and Indians.
India and New Zealand have a dynamic, multi-faceted relationship, with 300,000 Kiwi-Indians at its heart.
And today that relationship just grew stronger.,” he said on X on Sunday (March 16, 2025)
Announcing his visit to India on March 10, 2025, PM Luxon said strengthening New Zealand’s relationship with India was a key priority for his government. Highlighting that India was the world’s fifth largest economy, he said he was focused on “increasing trade and business opportunities” between the two countries and promoting New Zealand as an investment destination.
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