India, New Zealand announce resumption of FTA talks after gap of 10 yrs

New Delhi, Mar 16 (PTI) After a gap of about ten years, India and New Zealand on Sunday announced resumption of negotiations for a proposed free trade agreement (FTA) to boost economic ties.

India and New Zealand began negotiating the Comprehensive Economic Cooperation Agreement (CECA) in April 2010 to boost trade in goods, services, and investment. However, after ten rounds of discussions, the talks stalled in February 2015.

“The two nations are pleased to announce the launch of negotiations for a comprehensive and mutually beneficial India-New Zealand Free Trade Agreement (FTA) negotiations,” the commerce ministry said.

The announcement was made after the meeting of Commerce and Industry Minister Piyush Goyal and Todd McClay, New Zealand’s Minister for Trade and Investment.

Prime Minister of New Zealand Christopher Luxon is here on a four-day visit from March 16.

“The India-New Zealand FTA negotiations aim to achieve balanced outcomes that enhance supply chain integration and improve market access,” it said. Read more

Source: Live Mint

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