Mr Richard White, New Zealand Trade Commissioner to India, has said his country is expecting to conclude the Free Trade Agreement (FTA) with India by next year.
FTA is a treaty between two or more countries to create a free trade zone. According to Mr White, New Zealand was not only “determined to conclude a successful FTA in the next year or so”, but also develop a collaborative and coordinated strategy for political, economic and trade ties between the two countries.
Mr White was here to address an interactive session organised by the Bengal National Chamber of Commerce and Industry.
The bilateral trade between India and New Zealand, which stood at $1 billion in 2011-12, is expected to double by 2015, Mr White said.
In view of India's growing demand for information and communication technology (ICT) services, many ICT companies have been eyeing to enter the Indian marketplace, he said. A number of New Zealand-based companies were also planning to partner with major Indian firms like CMC Ltd and HCL, he added.