Ratification process for India-NZ FTA has begun, no set timeline yet: MEA
The ratification process for the India-New Zealand Free Trade Agreement has officially begun in the New Zealand parliament. While there is no fixed timeline for implementation, officials report strong bipartisan support for the deal.
Why it matters
Trade agreements between major economies influence global supply chains and bilateral economic relations.
The ratification process for the India-New Zealand Free Trade Agreement (FTA) has already begun in New Zealand, with the first parliamentary reading completed, though there is no fixed timeline for its implementation, the Ministry of External Affairs (MEA) said on Saturday.Addressing a special media briefing during Prime Minister Narendra Modi's official visit to New Zealand, Secretary (East) in the MEA, Rudrendra Tandon, said New Zealand had assured India that the agreement enjoys bipartisan political support and that the ratification process would move forward swiftly. So, regarding the question about FTA, as far as the FTA is concerned, their ratification process has already started. The first reading has already taken place. According to their system, there are three readings in Parliament, only after which ratification will happen, Tandon said.Also Read: No Facebook, Instagram for Indian kids below 16?
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