India, New Zealand make steady progress in FTA

Auckland: India and New Zealand have held detailed discussions on key areas including trade in goods, trade in services, economic and commercial cooperation and rules of origin in the fourth round of talks for their proposed free trade agreement (FTA), the government said on Saturday.

Trade and Industry Minister Piyush Goyal met with New Zealand Trade Minister Todd McClay and they acknowledged the “steady progress” made in this round. Goyal visited New Zealand from 5 to 7 November to review the progress of FTA negotiations. McClay is expected to visit India next week.

“The proposed FTA is expected to unlock greater potential in sectors such as agriculture, food processing, renewable energy, pharmaceuticals, education and services, creating new opportunities for businesses and consumers,” the trade and industry ministry said in a statement. he said.
The fourth round of talks concluded in Auckland and Rotorua on Saturday after five days of constructive and forward-looking discussions between the two sides, according to the statement.

Dairy and agriculture are politically sensitive areas for India, but Goyal said India and New Zealand could cooperate in areas of agriculture such as dairy machinery and then set up mini dairies. According to the statement, the two sides agreed to continue detailed discussions on all chapters with a shared determination to maintain momentum through intersessional work and move towards early rapprochement on the India-New Zealand free trade agreement.