Goyal reaches New Zealand to review progress of FTA talks

Auckland, Nov 5 (PTI) Commerce and Industry Minister Piyush Goyal on Tuesday reached here to meet his New Zealand counterpart Todd McClay for reviewing progress of the negotiations for a proposed free trade agreement.

"Delighted to be in New Zealand to review the progress of the ongoing FTA (Free Trade Agreement) negotiation," Goyal said in a post on X.

The two countries will look forward to expedite the process for a comprehensive, mutually beneficial economic partnership, he said.

"I will also meet industry leaders along with investors to explore new avenues for collaboration and investment between our two countries," Goyal added.

The fourth round of India-New Zealand FTA negotiations commenced in Auckland on November 3.

The FTA negotiations were formally launched on March 16, 2025.

India's bilateral merchandise trade with New Zealand stood at USD 1.3 billion in 2024-25, registering a growth of nearly 49 per cent over the previous year.

India's key goods exports to New Zealand include clothing, fabrics, and home textiles; medicines and medical supplies; refined petrol; agricultural equipment and machinery such as tractors and irrigation tools, auto, iron and steel, paper products, electronics, shrimps, diamonds, and basmati rice.

Major imports are agricultural goods, minerals, apples, kiwifruit, meat products such as lamb, mutton, milk albumin, lactose syrup, coking coal, logs and sawn timber, wool, and scrap metals. PTI RR HVA