Union Trade and Industry Minister Piyush Goyal with New Zealand Trade and Investment Minister Todd McClay. File | Photo credit: PTI
India and New Zealand on Friday (December 12, 2025) discussed ways to speed up negotiations on a proposed Free Trade Agreement (FTA) between the two countries.
New Zealand Trade Minister Todd McClay is here to review the progress of talks with Trade and Industry Minister Piyush Goyal.
After the bilateral meeting, Mr Goyal said in a social media post, “We discussed key aspects of the India-New Zealand Free Trade Agreement and explored ways to move the negotiations forward for the mutual benefit of both countries.”
I held an engaging meeting with my friend and New Zealand’s Trade and Investment Minister Todd McClay.
We discussed key aspects of the India-New Zealand Free Trade Agreement and explored ways to move negotiations to the mutual benefit of both countries. 🇮🇳🇳🇿 pic.twitter.com/TiOGbXonYE
— Piyush Goyal (@PiyushGoyal) December 12, 2025
Negotiations were formally launched on March 16, 2025. Four rounds of negotiations have been completed so far.
India’s bilateral trade in goods with New Zealand has reached $1.3 billion in 2024-25, registering an increase of nearly 49% over the previous year.
Also read | Free Trade Agreement negotiations with Oman, New Zealand in final phase: Piyush Goyal
The proposed FTA is expected to further enhance trade flows, foster investment linkages, strengthen supply chain resilience and create a predictable framework for businesses in both countries.
New Zealand’s average import duty is only 2.3%.
In a free trade agreement, two countries either significantly reduce or eliminate tariffs on a maximum number of goods traded between them. They also facilitate standards to support trade in goods and services.
India and New Zealand began negotiations for a Comprehensive Economic Cooperation Agreement (CECA) in April 2010 to promote trade in goods, services and investment. However, after nine rounds of discussions, the talks stalled in 2015.
Key merchandise exports from India to New Zealand include clothing, fabrics and home textiles; medicines and medical supplies; refined gasoline; agricultural equipment and machinery such as tractors and irrigation tools, automobile, iron and steel, paper products, electronics, shrimp, 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 timber, wool and scrap metal.
Published – 12 Dec 2025 16:42 IST
