India has initiated negotiations on a free trade agreement with New Zealand,while countries seek to strengthen economic ties in the midst of the growing uncertainty in world trade.
India’s Minister of Commerce and Industry, Piyush Goyal, met Sunday with Todd McClay, New Zealand’s Minister of Commerce and Investment, according to a statement from the Press Information Office. Negotiations seek to achieve better access to the market and greater integration of the supply chain.
India is among the countries that will face an increase in American tariffs from next month. President Donald Trump prepares to impose reciprocal tariffs on April 2, which will affect industries other than those of steel and aluminumwhere tariffs had already increased earlier this month.
New Zealand joins other nations in its effort to reach free trade agreements with India.The EU and India aspire to close an agreement this year, while the United Kingdom and the southern country tried to reactivate the prolonged trade negotiations earlier this year.
