‘Historic visit, will finalise the FTA very soon’: Piyush Goyal on trade deal with New Zealand
Commerce and Industry Minister Piyush Goyal stated on Thursday that discussions between India and New Zealand on a free trade agreement are progressing rapidly, with hopes that the pact will soon be concluded. Goyal, currently on a four-day official visit, is reviewing the ongoing negotiations with New Zealand’s Trade Minister Todd McClay, emphasising that both delegations are making strong headway in resolving outstanding issues.
“I believe this is a historic visit also because we are going to finalise the FTA very soon,” Goyal said.
He further noted that sensitivities on both sides are being respected as the talks advance. The minister attributed progress to extensive cooperation, indicating that teams from both countries have addressed several important details to bring the agreement closer to completion.
Goyal remarked, “Our teams have done a wonderful job. The few nuances that needed to be addressed are before us. A lot of things, in the spirit of accommodation, have been closed.” The negotiations are set to continue, with both sides aiming to finalise the remaining aspects of the agreement.
“Talks will continue tomorrow also and hope to get a lot of work done. Therefore I think we will get an FTA with New Zealand soon,” Goyal told reporters. This reflects a shared commitment to accelerate the conclusion of the free trade agreement, which both governments have prioritised.
Todd McClay highlighted the recent uptick in trade, saying the pact would help boost trade significantly. He added, “We’ve seen over the last year, the two-way trade increased by 10 per cent which is a very large increase when we think about the size of the two economies, and so we’re working hard to strike a deal that will give real opportunity to all Indian businesses in New Zealand and New Zealand businesses who are interested in working together in India.”
According to McClay, cooperation in agri-technology, science and innovation will also benefit from the agreement, as negotiations continue to make good progress.
