FTA with India may conclude by March 2012: New Zealand PM
June 27th, 2011 - 7:07 pm ICT by IANS
New Delhi, June 27 (IANS) The free trade agreement between India and New Zealand may conclude by March 2012, New Zealand Prime Minister John Key said Monday.
Key arrived in New Delhi Sunday night on a four-day visit to India.
“We anticipate that by March 2012 the free trade agreement will conclude,” Key told reporters here.
“We have had four or five rounds of negotiations, we will have four-five more rounds,” he said.
The New Zealand prime minister, however, added that the ‘quality’ of the agreement mattered more - even if the negotiations took longer.
“The quality of the free trade agreement is important so we will not be held hostage by the date,” he said.
Talking about trade between the two countries, Key expressed the hope that bilateral trade would see a two-fold increase by 2015.
“Trade with India is presently around (New Zealand) $1.2 billion, we expect it to increase to around (New Zealand) $3 billion by 2015,” Key said.
He also said that agricultural exports from New Zealand may help in bringing food inflation down in India.
“Supply of food products, especially dairy from New Zealand, may play a part in controlling food inflation in India,” he added.
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Tags: agricultural exports, bilateral trade, food products, free trade agreement, fta, hostage, India, inflation, john key, june 27, monday key, negotiations, New Delhi, new zealand, prime minister john