India, New Zealand teams commence next round of talks for trade pact

New Delhi, Nov 3 (PTI) Officials of India and New Zealand on Monday started the fourth round of negotiations in Auckland for the proposed free trade agreement, the commerce ministry said.

Commerce and Industry Minister Piyush Goyal will reach Auckland this week to meet his New Zealand counterpart Todd McClay to review the progress of the negotiations.

"The Fourth Round (November 3-7, 2025) of negotiations for the India-New Zealand Free Trade Agreement (FTA) commenced today (Monday) in Auckland, New Zealand," the ministry said in a statement.

Negotiations in this round are focusing on key areas, including trade in goods and services, and Rules of Origin.

"Both sides are working constructively to build on the progress achieved in earlier rounds, to reach convergence on outstanding issues and move towards the early conclusion of the FTA," it said.

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

The third round of negotiations for the agreement concluded on September 19 in Queenstown, New Zealand.

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.

The proposed FTA is expected to further boost trade flows, promote investment linkages, strengthen supply chain resilience, and create a predictable framework for businesses in both countries.

New Zealand's average import tariff is just 2.3 per cent.

In a free trade agreement, two countries either significantly reduce or eliminate customs duties on maximum number of goods traded between them. They also ease norms to promote trade in goods and services.

India and New Zealand began negotiating the CECA in April 2010 to boost trade in goods, services, and investment. After nine rounds of discussions, however, the talks stalled in 2015.

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.

The main 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 TRB