New Delhi: The first round table joint meeting between India and New Zealand and industry associations of both the countries took place in New Delhi on Thursday. The meeting was co-chaired by Rajesh Agarwal, Additional Secretary, Department of Commerce, Government of India and David Paine, High Commissioner of New Zealand to India.
Given the current volume of bilateral trade between the two countries, both sides recognized the great potential in the India-New Zealand partnership and the need to bring synergy to enhance economic ties in areas of mutual interest. There was a general understanding that there was a need to work beyond any free trade agreement and explore other areas where the two could complement each other. The discussions also focused on furthering the objectives of the Joint Trade Committee (JTC) set up under the 1986 bilateral trade agreement.
The High Commissioner of New Zealand in his brief remarks emphasized on collective efforts keeping in mind the principles of mutual benefit, proportionality, trade facilitation and engagement with private sectors. Some of the areas they explored include promoting the Unified Payments Interface (UPI) system, carbon credit cooperation, economic cooperation through regional arrangements and working together on specific issues such as prioritization of broad proposals and requests made by Zespri . Non-tariff measures for bilateral benefit to businesses on both sides. The High Commissioner also informed that the India New Zealand Business Council has published a report in April, 2023 on “India New Zealand-Relationships ready for the next phase”, highlighting viable areas of cooperative activities for economic prosperity. He also stressed on increasing the air connectivity between the two countries.
Rajesh Agarwal referred to strengthening the existing institutional mechanisms to improve bilateral trade and laid emphasis on creating a structure to work on issues of cooperation and collaboration. This may involve setting up of a working group at the Joint Secretary level to work on specific identified issues and once the ideas and related cooperative activities are solidified, it is extended and finalized during the Joint Business Committee meeting. can be given. He further said that this would require a concerted effort from both the sides and should take into account the deliberations in G2G, B2B and G2B interactions.
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