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India, New Zealand pledge to fast-track FTA, deepen economic cooperation
Leaders set trade target and outline collaboration across key sectors.
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IANS - Sat, 11, Jul 2026
- 01:50 EDT
- 21
Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon announced steps to strengthen bilateral trade and economic cooperation. / IANS
India and New Zealand on July 11 agreed to accelerate implementation of their recently signed Free Trade Agreement (FTA) and work towards doubling bilateral trade in goods and services to NZ$7 billion (approximately ₹35,000 crore) by 2030.
Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon also agreed to work on the next steps needed to ensure the FTA enters into force at the earliest and is implemented effectively.
Also read: Luxon says India has emerged as key geopolitical and Indo-Pacific partner under Modi
The agreement, signed on April 27, eliminates tariffs on 100 percent of India's exports to New Zealand while either removing or significantly reducing tariffs on 95 percent of New Zealand's exports to India.
The two leaders also agreed to operationalize the 2025 Authorized Economic Operators Mutual Recognition Arrangement (AEO-MRA) under the 2024 Customs Cooperation Arrangement to simplify customs procedures and facilitate trusted trade.
According to an official statement, both countries will implement the 2025 Memorandum of Cooperation on Horticulture to promote joint research, knowledge exchange, post-harvest innovation and market development initiatives.
They also agreed to implement the 2025 Letter of Intent on Forestry Cooperation through continued policy dialogue, technical exchanges and the sharing of best practices, along with the Memorandum of Cooperation on Animal Husbandry and Dairying to strengthen technical and policy collaboration.
In the tourism sector, the two countries will operationalize a Memorandum of Arrangement aimed at promoting two-way visitor flows and closer cooperation between the tourism industries. They also agreed to encourage airlines to begin direct, non-stop flights under the updated Air Services Agreement to support tourism growth.
The leaders further agreed to continue discussions between India's Directorate General of Shipping under the Ministry of Ports, Shipping and Waterways and Maritime New Zealand to strengthen mutual recognition of seafarer competency certificates in support of their maritime industries.
Both sides also agreed to engage with the Global Biofuels Alliance to support sustainable energy transitions.
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