India-New Zealand FTA to unlock significant economic benefits: NZ Minister Simon Watts

Auckland/New Delhi , July 10 (IANS) Calling Prime Minister Narendra Modi’s visit a landmark moment in India-New Zealand relations, New Zealand Revenue Minister Simon Watts said on Friday that the signing of the India-New Zealand Free Trade Agreement (FTA) marks a major step forward for bilateral ties, opening significant economic opportunities for both countries while reinforcing their shared commitment to a rules-based international order.

Speaking to IANS in Auckland, Watts said the India-New Zealand Free Trade Agreement (FTA) is a ‘major step forward’ in bilateral relations and is expected to deliver substantial economic benefits to both nations.

“This is a major step forward in regard to our bilateral relations. It opens up significant economic benefits for both countries. It reinforces two countries with very similar outlooks in regard to rule-based order and a multilateral approach,” he said.

Describing the visit as a “very significant moment” for New Zealand, Watts said hosting Prime Minister Modi underscores the strengthening relationship between Wellington and New Delhi.

“This is a very significant moment for New Zealand to be able to host Prime Minister Modi here. It really reinforces the strengthening of the relationship between New Zealand and India. The signing of the Free Trade Agreement is a significant step forward for bilateral relations, and this is a big step also for the Indian diaspora based here in New Zealand,” he told IANS.

The minister also praised Prime Minister Modi’s global stature, saying the visit sends a strong signal about the strategic importance both countries attach to the partnership.

“He’s a significant player on the world stage. Our Prime Minister Christopher Luxon is very humbled to be able to host him here in New Zealand. It’s a real reinforcement that Prime Minister Modi is in New Zealand. He’s signalling that it’s a strategic relationship and we’re very much looking forward to hosting him here,” Watts said.

Expressing appreciation for Prime Minister Modi’s engagement with New Zealand, Watts thanked the Indian leader for strengthening bilateral ties through his visit.

–IANS

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