Indian and New Zealand have announced their collaboration to advance the India-New Zealand Free Trade Agreement (FTA) for prompt implementation. Prime Minister Narendra Modi and New Zealand’s Prime Minister Christopher Luxon aim to double bilateral trade in goods and services to NZ$7 billion (Rs 35,000 crore) by 2030. The FTA, inked on April 27 this year, eliminates tariffs on all of India’s exports to New Zealand and significantly reduces or eliminates tariffs on 95% of New Zealand’s imports from India.
The leaders also deliberated on activating the 2025 Authorised Economic Operators Mutual Recognition Arrangement (AEO-MRA) under the 2024 Customs Cooperation Arrangement (CCA) to simplify customs procedures and promote trusted trade. They have agreed to implement the 2025 Memorandum of Cooperation on Horticulture to enhance joint research, knowledge sharing, post-harvest innovation, and market development initiatives. Furthermore, they plan to execute the 2025 Letter of Intent on Forestry Cooperation through ongoing policy discussions, technical exchanges, and sharing best practices.
In addition, both nations have decided to implement the Memorandum of Cooperation on Animal Husbandry and Dairying to advance technical and policy cooperation. They have also committed to activating the Memorandum of Arrangement for tourism to boost two-way visitor flows and industry collaboration in the tourism sector. Moreover, they aim to stimulate tourism growth by encouraging airlines to start direct (non-stop) flights under the revised Air Services Agreement.
Furthermore, the leaders have agreed to maintain an open dialogue between the Directorate General of Shipping, Ministry of Ports, Shipping and Waterways of India, and Maritime New Zealand to explore opportunities for enhancing the recognition of seafarer competency certificates to support their respective maritime sectors. Both sides have also pledged to engage with the Global Biofuels Alliance to promote sustainable energy transitions.
