India and New Zealand have embarked on their fourth round of discussions aimed at finalizing a comprehensive free trade agreement. The Indian delegation is currently in Auckland, with talks scheduled to continue until November 7, as confirmed by the Ministry of Commerce and Industry on Monday.
These ongoing negotiations are zeroing in on critical aspects of trade, including the exchange of goods, services, and the intricate “rules of origin.” The Ministry’s statement highlighted that both nations are committed to building upon previous progress, striving to resolve remaining differences, and working towards the swift conclusion of the FTA.
It’s worth noting that the “rules of origin,” which precisely define where a product originates, have been a recurring sticking point for India in other major trade discussions, notably with the European Union.
The initial phase of these crucial FTA negotiations between India and New Zealand was officially inaugurated on March 16 by India’s Commerce and Industry Minister, Piyush Goyal, alongside New Zealand’s Minister for Trade and Investment, Todd McClay.