India, New Zealand may conclude FTA by 2011

Monday, 29 November 2010, 17:55 Hrs
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New Delhi: The government today informed Parliament that India and New Zealand are expected to conclude a comprehensive market opening pact, aimed at enhancing the economic engagement between the nations, by 2011.

Three round of negotiations have been completed for a free trade agreement (FTA), Minister of State for Commerce and Industry Jyotiraditya Scindia said in a written reply to Lok Sabha. The talks began in March 2010.

"The FTA is likely to be concluded by 2011," Scindia said.

While comprehensive coverage of the service sector with commitments on all modes, technology, imports in the field of agriculture, education, biotechnology, healthcare, tourism and films are of interest to India, New Zealand wants access to Indian markets for its agri products like apple, kiwi and also for wine.

The bilateral trade between them was a meager $754 million in 2009-10.
Source: PTI
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