India and New Zealand Bolster Economic Ties in Trade Talks
Minister Piyush Goyal and New Zealand's Trade Minister Todd McClay convened in New Delhi to enhance economic relations. Their talks centered on streamlining trade processes, minimizing barriers, and fostering a conducive business environment for both countries. McClay praised India's initiatives in addressing concerns regarding wooden log exports, acknowledging the positive measures taken by the nation.
The discussions recognized India's effective G20 Presidency and its substantial contributions to global problem-solving. Both ministers affirmed their dedication to enhancing bilateral trade, investment, and economic cooperation, emphasizing key sectors such as agriculture, forestry, pharmaceuticals, connectivity, education, and tourism.
Highlighting increased engagement between businesses in both countries, the leaders stressed the importance of leveraging this momentum for enhanced government-to-government dialogue. They recognized the significance of the Joint Trade Committee (JTC) established under the 1986 India-New Zealand Trade Agreement, emphasizing the need for regular senior-level meetings for bilateral discussions on trade and investment issues.
In their commitment to fortifying the economic relationship, the ministers advocated for cooperative strategies involving officials from pertinent departments and the private sector. They suggested establishing working groups to investigate inventive approaches for economic partnership, especially in technology and expertise collaboration.
Global trade dynamics, including support for a rules-based, transparent, and inclusive multilateral trading system, were central to the discussions. The ministers briefly addressed issues related to the World Trade Organisation (WTO) Ministerial Conference, expressing cooperation and mutual understanding for a positive approach to resolving long-standing matters. Both ministers expressed confidence in deeper cooperation and reiterated their commitment to continuing constructive dialogue.
