India, Dec. 23 -- The Government of India has issued a release:
India and New Zealand have concluded negotiations on the Financial Services Annex of the India-New Zealand Free Trade Agreement (FTA) on 22nd December,2025. This marks a significant milestone in strengthening bilateral economic and strategic cooperation. This landmark achievement was finalized during the last round of negotiations held on December 10, 2025.
India and New Zealand share a robust commitment to strengthen bilateral cooperation in the financial services sector. Recognizing the significance of this relationship, both nations have worked collaboratively to develop a forward-looking, balanced and mutually beneficial agreement that will unlock enhanced opportunities for their respective financial services sectors. This FTA will provide the necessary institutional and regulatory framework to accelerate bilateral collaboration, facilitate market access and catalyze deeper integration of the two economies' financial systems.
The India-New Zealand Financial Services Annex marks a notable advancement over standard GATS commitments, evolving to a total of 18 articles. The key achievements of Financial Services Annex include the following:
Overall, the conclusion of negotiations on the India-New Zealand Financial Services Annex underscores both governments' commitment to deepening the economic ties and harnessing mutual opportunities in the rapidly evolving financial services landscape. The agreement is forward-looking, balanced and designed to provide enhanced market access, regulatory clarity and cooperative frameworks that will benefit financial institutions and service providers from both countries.
Currently, two Indian banks-Bank of Baroda and Bank of India-maintain subsidiary operations in New Zealand with a combined total of four branches while New Zealand currently has no banking or insurance presence in India, and no Indian insurance companies have established operations in New Zealand. This FTA, by establishing clear market access commitments, regulatory transparency and bilateral cooperation frameworks, will facilitate increased bilateral investment, institutional presence and services delivery. The agreement will serve as an important catalyst for broadening India's financial services presence in New Zealand and welcoming New Zealand financial institutions to India's growing and dynamic financial services markets.
Disclaimer: Curated by HT Syndication.
