Monday, March 17, 2025

Creating liberating content

Pictured here is a Shanghai development under construction on Nov.

Washington, United States: A pair of US astronauts stuck for

Top stocks to buy (AI image) Stock market recommendations: According

Vatican releases first photo of Pope Francis since hospitalization –

Related News

Pictured here is a Shanghai development under construction on Nov. 4, 2024. Cfoto | Future Publishing | Getty Images China’s economy showed a modest pickup for the first two months

Washington, United States: A pair of US astronauts stuck for more than nine months on the International Space Station will be returned to Earth on Tuesday evening, NASA said. Butch

Top stocks to buy (AI image) Stock market recommendations: According to Motilal Oswal Financial Services Ltd, the top stock picks for the week (starting March 17, 2025) are HPCL and

Vatican releases first photo of Pope Francis since hospitalization – CBS News Watch CBS News The Vatican has released the first photo of Pope Francis since he was hospitalized more

Iran’s Revolutionary Guards have warned of a “decisive” response to any attack following US President Donald Trump’s air strikes against Yemen’s Houthi rebels and his demand for Tehran to end

3/16: CBS Weekend News – CBS News Watch CBS News Deadly storm spawns tornadoes, killing over 30; Southern California company looks to make sustainable guitars Be the first to know

Trending News

Top stocks to buy (AI image) Stock market recommendations: According to Motilal Oswal Financial Services Ltd, the top stock picks for the week (starting March 17, 2025) are HPCL and

MUMBAI: IndusInd Bank may have overstated its net interest income in preceding quarters, research reports by brokerage houses said. As a result, the lender will take a significant hit in

NEW DELHI: India has achieved self-sufficiency in solar module manufacturing. But the feat has rendered domestic producers of polysilicon, wafers and ingots – the building blocks for modules – vulnerable

New Delhi: India and New Zealand decided to relaunch negotiations for a free trade agreement on Saturday after a gap of 10 years, a move aimed at deepening economic ties

Mumbai: A host of global and domestic factors are expected to weigh on investors’ sentiment when Dalal Street opens for trading on Monday. The escalating global tariff war between the

NEW DELHI: India’s foreign exchange reserves recorded their sharpest weekly gain in more than three years in the week ending 7 March. The exchange surged $15.27 billion to reach $653.97

India, New Zealand to restart FTA talks after a 10-year gap

Word Count: 729 | Estimated Reading Time: 4 minutes


India, New Zealand to restart FTA talks after a 10-year gap

New Delhi: India and New Zealand decided to relaunch negotiations for a free trade agreement on Saturday after a gap of 10 years, a move aimed at deepening economic ties between the two countries against the backdrop of geopolitical tensions.
Commerce and industry minister Piyush Goyal and New Zealand’s trade minister Todd McClay met on the eve of the bilateral meeting between Prime Minister Narendra Modi and New Zealand’s PM Christopher Luxon to announce the launch of negotiations for a comprehensive and mutually beneficial India-New Zealand Free Trade Agreement (FTA) negotiations.
“This marks a significant milestone in our partnership, reflecting our shared vision to deepen trade ties and expand economic opportunities,” Goyal said on microblogging site X after meeting McClay.
“With bilateral trade continuing to grow steadily surpassing $1 billion during April-Jan 2025, the FTA negotiations aim to unlock new avenues for businesses and consumers, fostering mutual growth and prosperity of our nations,” said Goyal.
The India-New Zealand FTA negotiations aim to achieve balanced outcomes that enhance supply chain integration and improve market access. This milestone reflects a shared vision for a stronger economic partnership, fostering resilience and prosperity, said a statement from the commerce and industry ministry.
Talks between the two countries had started in April 2010 to deepen trade in goods & services, and investment but stalled after 10 rounds of negotiations due to a raft of issues, including disagreements over market access and trade priorities.
The latest FTA negotiations come against the backdrop of several other deals that India is negotiating with the US, the UK, the European Union, Oman and other countries. The urgency to stitch together bilateral deals has been triggered by the threat of “tariff war” which has been unleashed by the US after Donald Trump was elected President.
“A major challenge in the renewed talks will be the disparity in tariff structures. New Zealand’s average import tariff is only 2.3%, with over half of its tariff lines already duty-free, meaning Indian goods already have substantial access to its market. In contrast, India’s average tariff stands at 17.8%, meaning it would have to make significant reductions, making a traditional FTA less attractive for India,” said Ajay Srivastava, head of the trade think tank GTRI.
“As talks resume, both countries will need to find common ground on these issues to move forward successfully,” said Srivastava.
He said India-New Zealand trade in FY24 stood at just over $1.5 billion, highlighting a significant underperformance in economic ties.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account