India and New Zealand have revived free trade negotiations stalled for almost a decade after leaders of both countries met in New Delhi on Monday.
Efforts to broker a free trade deal between New Zealand and the world’s most populous nation have floundered, partly on whether New Zealand —one of the world’s biggest milk producers — can gain access to India’s heavily protected dairy sector.
New Zealand Prime Minister Christopher Luxon met with his Indian counterpart Narendra Modi on Monday and said both countries would work towards a “balanced, ambitious and comprehensive agreement”.
“The negotiations will expand opportunities for both our countries and our peoples and we look forward to reaching a mutually beneficial agreement,” he said.
Modi said the leaders had agreed to “mutual cooperation and investment” in dairy, food processing and pharmaceutical industries.
“Our partnership will prove to be a match winning partnership for both countries,” he added.
Both countries signed agreements for cooperation in the education, defence and sports sectors.
Luxon and Modi also “agreed to enhance the trade and investment relationship between India and New Zealand to realise its untapped potential and to contribute to inclusive and sustainable economic growth,” a joint statement read.
