Auckland: India and New Zealand are progressing in talks for a bilateral trade agreement focused on sector-specific deals that strengthen economic ties while protecting sensitive areas, according to Union Commerce and Industry Minister Piyush Goyal. Speaking to ANI from New Zealand, Goyal described the discussions as conducted in a spirit of warmth and mutual respect, emphasising the importance of increasing India-New Zealand relations for mutual benefit. He noted, "It will be a good trade deal, keeping in mind the interests of both the countries... in which we do not have to compromise in any way."

He also added, "The way [New Zealand] Prime Minister Luxon spent so much time with me and the ministers and all the people of India who live here, the people of India's roots, I have spent a lot of time with them, about 45 minutes. It shows that the people of India get a lot of respect here; they have respect and importance."

From the beginning, both sides agreed to avoid issues considered sensitive and to concentrate on areas that can enhance trade. Goyal highlighted, "The deal will not be finalised until it is completely finalised... if you go to make a deal according to the time limit, then mistakes also happen." He emphasised that time is not a constraint for a sustainable partnership: "It can be done soon or it can take some time. Time is not so important because it is being set for a long future."

The bilateral trade between the two countries reached USD 1.75 billion in 2023-24. New Zealand exports wool, iron and steel, fruit and nuts, and aluminium to India, while India exports pharmaceuticals, machinery, textiles, and precious stones and metals to New Zealand. The talks aim for a balanced, enduring agreement that benefits the citizens of both countries.

With inputs from ANI