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India and New Zealand are on the cusp of finalising a Free Trade Agreement (FTA), a landmark development poised to significantly boost bilateral economic ties and open new avenues for growth, especially for vulnerable sectors like farming and small businesses.Union Commerce and Industry Minister Piyush Goyal expressed strong optimism for a swift conclusion to the talks, stating, "I think we can get an FTA with New Zealand soon."As per an ANI report, the Minister's confidence follows productive discussions with his counterpart, New Zealand's Minister for Trade Todd McClay, in Auckland.The bilateral trade agreement has the potential to create an environment that benefits the common people and small-scale operators in both countries. Minister Goyal highlighted the expansive scope of the pact, affirming that it "will be beneficial to farmers, fishermen and small business owners in both countries and would help 'increase investment and trade'."He emphasised the complementary nature of the two economies, noting, "In a way, these are the two countries that do not compete with each other. They work together as partners." This approach is expected to not only boost bilateral trade but also "enhance the global trade presence of both countries."The speed at which the negotiations have progressed has been remarkable. As ANI reported, New Zealand's Minister for Trade, Todd McClay, noted the unprecedented pace, stating, "I can't think of another trade negotiation that New Zealand's been involved in between a launch, which is March of this year and now, which is only seven months. There have been five rounds."McClay stressed that the partnership is far-reaching, extending beyond just goods. "It's much, much more than just what we might buy and sell from each other. It's how we can cooperate in areas of science and innovation and how we can help Indian farmers be more productive," he said.Minister Goyal acknowledged that while there is "never a deadline in these things," the positive environment suggests that "there will be good results very soon." He concluded that the FTA would be a significant milestone, proving "very effective in the Amrit Kaal journey of India's Viksit Bharat Vision 2047."Both ministers underlined that the agreement is designed for long-term sustainability, balancing the interests of both sides. McClay reiterated this mutual understanding, stating, "It will be a win-win and must be complementary," enabling businesses in both countries to "move more freely" and "invest in both directions."The proposed FTA is set to serve as the "starting point of a long relationship" that spans a variety of critical sectors.According to Goyal, the agreement will also "increase the relationship between the two countries in terms of technology."He pointed to vast possibilities in other fields, stating, “There are many possibilities in the field of education. Similarly, whether it is defence or space, food processing related to agriculture can open up a new market.”As per ANI, Goyal described his recent visit as "very useful," highlighting the "spirit of respect and accommodation" that has guided negotiations. He noted that "only a few remaining issues" need to be addressed, with a lot of the points already "closed" in a spirit of accommodation.
