India and New Zealand Set the Stage for a Landmark Trade Pact

India and New Zealand have successfully concluded the first round of negotiations for a Free Trade Agreement in New Delhi, marking a significant step toward strengthening economic ties. The discussions, held between May 5 and May 9, focused on trade in goods and services, investment facilitation, and broader economic cooperation.  

 

Trade Talks in Motion:  

- The negotiations followed a series of virtual discussions that laid the groundwork for the in-person meeting.  

- Both nations emphasized the importance of a balanced and mutually beneficial agreement that enhances market access and supply chain integration.  

- Bilateral trade between India and New Zealand has seen a sharp rise, reaching 1.3 billion dollars in the financial year 2024-25, reflecting a 48.6 percent growth over the previous year.  

- Key challenges include tariff disparities, with India’s average import tariff at 17.8 percent compared to New Zealand’s 2.3 percent, requiring careful negotiation to ensure fair trade terms.  

- The next round of talks is scheduled for July, with both sides aiming to finalize the agreement by the end of the year.  

 

Sources: Economic Times, Moneycontrol, Business Standard, MSN India.