Kiwi PM calls India-New Zealand FTA as strategic milestone that goes beyond trade

WELLINGTON: New Zealand Prime Minister Christopher Luxon on Monday described the recently signed India-New Zealand Free Trade Agreement (FTA) as a "historic milestone" that extends far beyond economic cooperation, underscoring its strategic significance amid global uncertainties.

"Today, we mark a historic milestone in the relationship between India and New Zealand: the signing of our Free Trade Agreement. It was only 13 months ago that I travelled to India to meet with Prime Minister Modi and launch Free Trade Agreement negotiations. India is one of the world's largest and fastest-growing economies, but our trade relationship has only begun to scratch the surface of its potential," Luxon stated in his post on X.

"Prime Minister Modi and I could see that an FTA would be a massive opportunity for both our two countries. Since my visit last March, Ministers Piyush Goyal and Todd McClay, and their officials, have worked tirelessly to negotiate a deal. The outcome of that hard work is a deal that delivers for India and for New Zealand. My congratulations to Minister Goyal, Minister McClay and all the negotiators who made this possible," it added. Emphasising the broader implications, Luxon said the FTA reflects a shared commitment to stable, predictable, and rules-based trade at a time when global economic conditions remain uncertain.

He further highlighted that the relationship between India and New Zealand is expanding across multiple sectors, including trade, investment, defence, innovation, and sports.

The Indian diaspora in New Zealand, he added, plays a crucial role in strengthening bilateral ties, echoing Prime Minister Modi's description of the community as a "living bridge" between the two nations. (ANI)

Also Read: India–New Zealand Free Trade Agreement: Historic FTA Removes Tariffs on 100% of Indian Exports, Boosts Investment and Jobs