Nearly a decade after talks broke down over key disagreements in sensitive sectors such as dairy and agriculture, India and New Zealand announced on Sunday that they would resume negotiations for a proposed free trade agreement.
India and New Zealand began negotiating the Comprehensive Economic Cooperation Agreement (CECA) in April 2010 to boost trade in goods, services, and investment. However, after nine rounds of discussions, the talks stalled in 2015.
"The two nations are pleased to announce the launch of negotiations for a comprehensive and mutually beneficial India-New Zealand Free Trade Agreement (FTA) negotiations," the commerce ministry said.
The announcement assumes significance as the Prime Minister of New Zealand Christopher Luxon is here on a four-day visit from March 16.
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The ministry made the announcement after the meeting of Commerce and Industry Minister Piyush Goyal and Todd McClay, New Zealand's Minister for Trade and Investment.
"The India-New Zealand FTA negotiations aim to achieve balanced outcomes that enhance supply chain integration and improve market access," it said.
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