New Zealand keen on FTA with India | SupportBiz

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New Zealand keen on FTA with India

New Zealand is determined to conclude negotiations on a Free Trade Agreement (FTA) with India by next year, an official said. Negotiations between the two countries for the pact commenced in April 2010, and seven rounds of talks have already taken place.

"The significance of India is reflected not just in our determination to conclude a successful FTA in the next year or so, but through the development of a collaborative, co-ordinated New Zealand-wide strategy for developing our political, economic and trade ties," Richard White, Trade Commissioner, office of the New Zealand High Commissioner in India, said.

White was adressing a programme organised by the Bengal National Chamber of Commerce & Industry (BNCCI) in Kolkata.

Bilateral trade between the two countries is expected to reach USD2 billion by 2015 from the current levels of about USD1 billion.

The major export items from New Zealand include coal, timber, wool and dairy products, while the key items of import from India are jewellery articles, diamonds, garments and footwear.