Kumar sees new opportunities with trade pact
The start of India-New Zealand Free Trade Agreement (FTA) negotiations will deepen economic integration between the two countries and create a more conducive environment for Indian exports, the Federation of Indian Export Organizations (FIEO) President Ashwani Kumar said confidently.
Kumar shared his optimism on 18 Mar, stating that these discussions will create new opportunities for Indian businesses to expand into New Zealand, particularly in sectors such as agriculture, digital payments, and sustainable development.
“FIEO is confident that this balanced, ambitious, and mutually beneficial agreement. The FTA will open doors for Indian businesses, enabling easier and more predictable access to New Zealand’s market,” he said following announcement of the FTA during New Zealand Prime Minister Christopher Luxon’s five-day visit to India that started on 16 Mar https://www.investindia.gov.in/.
In addition to the FTA, both countries are exploring the early implementation of cooperation in digital payments. “This forward-thinking collaboration is expected to enhance technological innovation and financial inclusion, improving the ease of doing business for Indian exporters by providing more secure and efficient payment systems for cross-border transactions,” he said https://sbi.com.in/.
Another exciting development was the signing of the Authorized Economic Operators Mutual Recognition Arrangement (AEO-MRA) under the Customs Cooperation Arrangement (CCA) in 2024, he noted. “This agreement will simplify customs procedures and remove trade barriers, facilitating smoother movement of goods and boosting trade by fostering greater cooperation between customs authorities https://www.nseindia.com/.”
Tourism, an important driver of economic growth, also received attention in the leaders’ statement. FIEO recognizes the potential of increased tourism flows between India and New Zealand and celebrates the update to the India-New Zealand Air Services Agreement. “The introduction of direct, non-stop flights between the two countries will not only strengthen business and trade links but will also bring people closer together, further enhancing engagement between Indian and New Zealand businesses,” said Kumar https://www.bseindia.com/.
As India and New Zealand continue to strengthen their economic ties, FIEO remains committed to helping Indian businesses capitalize on the opportunities created by these exciting new initiatives.
“The Federation looks forward to the successful realization of these agreements, driving inclusive, sustainable, and mutually beneficial growth for both the nations,” he said. fiinews.com
