New Zealand May Announce Start of Trade Deal Negotiations with India
Foreign Affairs Minister Winston Peters has hinted that New Zealand may soon announce the start of long-anticipated trade deal negotiations with India, signaling a new era in relations between the two nations.
Speaking at the India New Zealand Business Council’s annual address in Auckland, Peters expressed optimism about advancing relations between the two countries.
A Long-Stalled Negotiation
New Zealand began negotiating a trade agreement with India in 2010, under the leadership of Sir John Key. However, talks stalled after five years, and progress has remained stagnant ever since.
Despite this, Peters acknowledged the need for greater effort to strengthen ties with India, emphasizing the government’s commitment to fostering deeper connections with the world’s largest democracy.
New Developments
Peters highlighted recent diplomatic strides, including his trip to India in March 2024 and New Zealand’s hosting of Indian President Droupadi Murmu in August 2024. Trade Minister Todd McClay has also been active, visiting India three times this year and meeting his Indian counterpart, Piyush Goyal, on three other occasions abroad.
“What this government is doing is what we want, but we need more momentum,” said Bharat Chawla, chair of the India New Zealand Business Council. “We want to set a short-term goal before aiming for a long-term goal of a free trade deal. We don’t want to wait another 10 years.”
Business Leaders Call for Action
Sunil Kaushal, general manager of the council, agreed that while high-level political visits are promising, more action is needed. “New Zealand has come a long way, and there are good signals from both the New Zealand and Indian governments,” he said. However, he emphasized that challenges remained and that the government should allocate more resources to accelerate progress.
Peters also revealed plans to further solidify relations by confirming Prime Minister Christopher Luxon’s trip to India in the first quarter of 2025.
A Path Forward
The announcement of trade deal negotiations between New Zealand and India marks a significant development in the relationship between the two countries. While challenges remain, the government’s commitment to fostering deeper connections with the world’s largest democracy is welcome news for business leaders.
In conclusion, the start of trade deal negotiations between New Zealand and India represents a promising new chapter in relations between the two nations.
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