India, New Zealand looking at things afresh for win-win solution in trade talks

New Delhi, Nov 5 (IANS) Commerce and Industry Minister Piyush Goyal said on Wednesday that India and New Zealand were looking at things afresh and taking into account each other's sensitivities in the ongoing negotiations to conclude a Free Trade Agreement (FTA).

“We are going beyond tariffs and looking at newer ways to expand the India-New Zealand relationship in our FTA negotiations,” the minister said in a post on X.

Goyal further stated that both sides were giving due respect to each other’s sensitivities to come up with a solution that was a win-win for both countries, to take this partnership to the next stage.

The minister reached New Zealand for talks on the proposed FTA between the two countries on Wednesday.

“Delighted to be in New Zealand to review the progress of the ongoing FTA negotiations. Grateful to my good friend and counterpart, Todd McClay for the warm welcome. Together, we look forward to expediting the process for a comprehensive, mutually beneficial economic partnership,” the minister posted on X social media platform.

Goyal further stated that he will also meet industry leaders along with investors, “to explore new avenues for collaboration and investment between our two countries”.

According to a ministry statement, the 4th round of India–New Zealand FTA negotiations commenced in Auckland on November 3, marking an important step in deepening the bilateral trade and economic dialogue between the two nations.

The talks, which are taking place in Auckland till November 7, mark a renewed effort to craft a "balanced, comprehensive and mutually beneficial" deal after months of technical discussions, the ministry said.

Goyal will participate in a series of high-level engagements aimed at strengthening trade, investment, and innovation linkages between India and New Zealand.

These include a dedicated interaction with prominent members of the New Zealand business community and the visiting Indian business delegation, facilitating greater collaboration between the private sectors of both countries, the statement said.

A New Zealand-India Business Forum will be held in the afternoon in Auckland, followed by a community interaction event with members of the vibrant Indian diaspora.

According to the ministry, the engagements are expected to see participation from industry leaders, chambers of commerce, and government representatives from New Zealand, reaffirming the growing momentum in bilateral relations and the shared vision for a stronger, future-oriented economic partnership.

--IANS

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