New Delhi: The first Round Table Joint Meeting between India and New Zealand with the industry and industry associations of both countries took place on Thursday in New Delhi. The meeting was co-chaired by the Additional Secretary, Department of Commerce, Government of India Rajesh Agarwal and the High Commissioner of New Zealand in India,  David Pine. 

Looking at the present quantum of bilateral trade between the two countries, both sides acknowledged the huge potential in the India and New Zealand partnership and the need for bringing in synergy for enhanced economic relations in areas of mutual interest.  It was a common understanding that there is a need to work beyond any free trade agreement and explore other areas where both can complement each other. The discussions also focused on taking forward the objectives of the Joint Trade Committee (JTC), formed under the Bilateral Trade Agreement of 1986.

The New Zealand High Commissioner, in his brief remark, emphasized collective efforts keeping in mind the principles of mutual benefits, proportionality, facilitating trade and association with private sectors.  Some of the areas explored by him included promotion of a Unified Payment Interface (UPI) system, carbon credit co-operation, economic co-operation through sectoral arrangements and working together on specific issues like the comprehensive proposal made by Zespri and prioritization of requests on non-tariff measures for bilateral gains to the businesses of both the sides.  The High Commissioner also informed that India New Zealand Business Council has brought out a report in April, 2023 on “India New Zealand –Relationship ready for next phase”, reflecting feasible areas of co-operative activities for economic prosperity. He also emphasized on increasing the air connectivity links between the two countries.

Rajesh Agarwal mentioned strengthening the existing institutional mechanism for improving bilateral trade and emphasized on creation of a structure for working on cooperation and collaboration issues. This could include establishing a working group at the Joint Secretary level to work on specific identified issues and once the ideas and the corresponding cooperative activities are concretized, the same can be scaled up and finalized during the Joint Trade Committee meeting.  He further stated that it would require a concerted effort from both sides and should take into account deliberations at G2G, B2B and G2B interactions. 

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