New Delhi: Union Minister of Commerce and Industry Piyush Goyal reached New Zealand on Tuesday to meet his counterpart Todd McClay and review the progress of discussions on the proposed Free Trade Agreement (FTA). This is Goyal’s first official visit to New Zealand, scheduled from November 5 to 8.
In a post on X on Wednesday, Goyal wrote, “Glad to be in New Zealand to review the progress of ongoing Free Trade Agreement (FTA) discussions. Grateful to my good friend and counterpart Todd McClay for the warm welcome.” He added that both nations are committed to accelerating the process of building a comprehensive and mutually beneficial economic partnership.
The minister further said that he would also meet with industry leaders and investors to explore new avenues of cooperation and investment between India and New Zealand.
The fourth round of FTA talks between India and New Zealand began in Auckland on November 3. The formal negotiations were launched on March 16. During the financial year 2024–25, bilateral trade between the two countries stood at USD 1.3 billion, marking a 49% increase compared to the previous fiscal year.
India’s key exports to New Zealand include textiles, garments and home furnishings, pharmaceuticals, medical equipment, refined petroleum, agricultural machinery such as tractors and irrigation tools, motor vehicles, iron and steel, paper products, electronics, shrimps, diamonds, and basmati rice.
Major imports from New Zealand comprise agricultural products, minerals, apples, kiwis, meat products (such as lamb and mutton), milk albumin, lactose syrup, coking coal, logs and timber, wool, and metal scrap.
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