India and New Zealand have relaunched the free trade negotiations in standby for almost a decade after the leaders of the two countries met in New Delhi on Monday.
Efforts to negotiate a free trade agreement between New Zealand and the most populous nation in the world have trained, in part on the question of whether New Zealand-one of the largest producers in world milk-can access the dairy sector strongly protected in India.
New Zealand Prime Minister Christopher Luxon met his Indian counterpart Narendra Modi on Monday and said that the two countries would work towards a “balanced, ambitious and complete agreement”.
“Negotiations will expand opportunities for our countries and our peoples and we are impatient to reach a mutually beneficial agreement,” he said.
Modi said that managers had accepted “mutual cooperation and investment” in dairy products, food processing and pharmaceutical industries.
“Our partnership will prove to be a winning partnership for the two countries,” he added.
The two countries have signed agreements for cooperation in the education, defense and sport sectors.
Luxon and Modi “also” agreed to improve trade and investment relations between India and New Zealand to achieve its unexploited potential and contribute to inclusive and sustainable economic growth, “said a joint declaration.