FX.co ★ India, New Zealand Likely to Finalise FTA Soon

India's Commerce and Industry Minister, Piyush Goyal, announced on Thursday that negotiations with New Zealand are advancing swiftly, with optimism that a Free Trade Agreement (FTA) may soon be completed, as reported by PTI. Goyal is set to visit New Zealand from November 5 to 8 to assess the FTA discussions alongside New Zealand's Trade Minister, Todd McClay. McClay indicated that the agreement is expected to substantially increase the current bilateral trade, which stands at approximately USD 1.5 billion. Highlighting recent trends, he noted a significant 10% rise in two-way trade over the past year, a notable increase given the scale of both economies. “We are diligently working towards a deal that will create substantial opportunities for Indian businesses operating in New Zealand, as well as for New Zealand firms looking to invest and collaborate with India,” McClay stated.