New Delhi, April 24: Commerce and Industry Minister Piyush Goyal welcomed New Zealand’s Trade and Investment Minister Todd McClay to India on Friday. This meeting comes ahead of the signing of the Free Trade Agreement (FTA) between the two countries, scheduled for April 27.
Goyal expressed his happiness on the social media platform ‘X’, stating that McClay’s visit marks the beginning of a new chapter in the economic relations between India and New Zealand. He emphasized that the upcoming FTA signing reflects the trust, shared values, and similar visions for economic growth between the two nations.
New Zealand Prime Minister Christopher Luxon had previously mentioned that this agreement will enhance trade and provide better market access for both countries. He announced on social media that the FTA will be signed on Monday.
In a video message, Luxon highlighted that the agreement will give New Zealand exporters improved access to the Indian market, particularly for companies manufacturing marine jet systems used in boats, which are exported to over 70 countries.
He noted that the deal will reduce trade barriers and strengthen business ties between the two nations. Currently, some exporters face tariffs when sending goods to India, but this agreement is expected to gradually lower these fees, making trade easier and more competitive.
Luxon also stated that the FTA will promote trade, employment, and economic development in New Zealand, leading to more jobs, better wages, and new opportunities. Following the signing of the FTA, it is anticipated that trade and investment between India and New Zealand will increase, providing both countries with greater opportunities in the global market.