New Zealand traded more than 94,500 cubic metres of radiata pine logs to India last month – an increase of 58% on March – according to new data published by Statistics New Zealand.
It comes as Todd McClay, New Zealand’s Trade Minister, last week called the latest round of in-person negotiations on a comprehensive India-New Zealand free trade agreement, “an important step forward.”
“Talks were constructive and saw progress across key areas. Negotiators remain in close contact and will continue exchanging documents and technical information in the lead-up to the next round. Both governments are committed to delivering high-quality outcomes that benefit exporters and consumers alike.”
Earlier this month, Wood Central reported that Indian trade in radiata pine could multiply under the terms of a new agreement, which Chris Luxon, New Zealand’s Prime Minister, said would cut import taxes and tariffs.
One of the major beneficiaries of an agreement, trade in New Zealand radiata pine peaked at NZ$326 million in 2019 before dropping to NZ$9.5 million in 2023 at the height of the methyl bromide dispute.
“Our relationship with India is a key priority for New Zealand, and this agreement reflects our commitment to deepening this strategic partnership,” McClay said, leading up to the most recent talks. “Many of our forestry exporters have long-standing relationships in India and are keen to expand.”
Reflecting on the most recent talks, India’s Ministry of Commerce and Industry noted that the negotiations in New Delhi “build on the shared commitment to deepen economic ties” expressed during Prime Minister Christopher Luxon’s visit to India in March, during which he met his Indian counterpart, Narendra Modi.
“Constructive negotiations were held across all areas of FTA, including trade in goods and services, trade facilitation and mutually beneficial sectors of economic cooperation,” the statement said. “This engagement highlights the strategic importance both partners attach to building a mutually beneficial, balanced and fair-trade agreement.”
The statement said the next round of talks would be held in July: “Both countries reaffirmed their common vision and mutual understanding to work towards a future ready framework and conclude the FTA this year.”
