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NZ wants a bilateral deal if India doesn’t join RCEP

New Zealand has stated that if India does not join the China-backed mega trade deal RCEP, then New Zealand would like to seal a bilateral trade agreement with India. India in November decided to stay out of the Regional Comprehensive Economic Partnership (RCEP) deal as negotiations failed to satisfactorily address New Delhi’s “outstanding issues and concerns”.

New Zealand’s Minister for Trade and Export Growth David Parker stated “I met with your minister of commerce (Piyush Goyal) yesterday and we discussed those issues. Of course, New Zealand and India have been busy for some years negotiating through the rubric of RCEP and we will know by the end of the year as to whether India chooses to stay out or participate in RCEP”. He was also hopeful that New Zealand and India would be able to work out a solution for India’s concerns about the dair sector. India has had expressed trepidation that the RCEP trade pact would severely impact dairy farmers because of cheaper imports from Australia and New Zealand.