India, New Zealand Likely to Finalise FTA Soon

India’s Commerce and Industry Minister Piyush Goyal on Thursday said that talks are progressing rapidly between India and New Zealand, expressing hope that the free trade agreement (FTA) will be finalized soon, according to news agency PTI.

Goyal is visiting New Zealand from November 5 to 8 to review the progress of FTA negotiations between the two countries with his New Zealand counterpart, Todd McClay.

When asked if the trade pact would help boost the current bilateral trade of about USD 1.5 billion, McClay said the pact would significantly enhance trade.

"We've seen over the last year that two-way trade increased by 10%, which is a very large increase considering the size of the two economies.

We're working hard to strike a deal that will create real opportunities for Indian businesses in New Zealand and for New Zealand businesses interested in working with India," he said.