Commerce and Industry Minister Piyush Goyal greeted Todd McClay, New Zealand’s Minister for Trade and Investment, in India before the upcoming free trade agreement (FTA) signing on April 27. Goyal expressed his pleasure in welcoming McClay, highlighting the beginning of a new phase in economic relations between India and New Zealand. The FTA signing on April 27 is seen as a significant moment in the bilateral journey, emphasizing the mutual trust, shared values, and joint vision for sustainable economic growth.
New Zealand Prime Minister Christopher Luxon mentioned that both countries are expected to gain from enhanced trade relations and improved market access. Luxon confirmed the signing of a Free Trade Agreement with India, emphasizing the benefits it would bring to New Zealand exporters, especially those dealing with marine jet systems. The agreement aims to reduce trade barriers, boost commercial interactions, and gradually eliminate tariffs for exporters accessing the Indian market, thereby enhancing competitiveness and promoting increased trade flows.
Luxon highlighted that the FTA would not only foster business activities, create job opportunities, and spur economic growth in New Zealand but also strengthen the trade connections with India. The agreement is anticipated to generate more jobs, higher incomes, and increased prospects, showcasing the broader positive economic effects of the deal. Upon implementation, the FTA is poised to bolster trade and investment links between India and New Zealand, offering expanded export opportunities in a dynamic global market environment.
