New Delhi, Aug 29 (KNN) Piyush Goyal, Minister of Commerce and Industry and Damien O’Connor, Minister for Trade and Export Growth of New Zealand, had a bilateral meeting on Monday at New Delhi. 

This meeting is part of a sustained effort by both governments to develop a broad-based relationship.

Both the countries are now building on the meeting between the Prime Ministers of both the countries in Port Moresby on 22 May, 2023.

People of Indian origin in New Zealand are making a strong contribution to all aspects of society. These linkages provide a strong base for advancing our economic cooperation, as per the official statement.

Ministers acknowledged the strong step-up in engagement between businesses in the two countries, and the desirability of ensuring this provides impetus to the government-to-government dialogue. 

The importance of the annual meeting of the Joint Trade Committee (JTC), established under the 1986 India-New Zealand Trade Agreement, and regular engagement at a senior level was also acknowledged. Ministers agreed to meet on regular basis, as convenient, for bilateral discussions on trade and investment issues and co-operative activities.

In committing to strengthening the trade and economic relationship, Ministers acknowledged the intention of both the countries to test new and innovative approaches to economic partnership.

They said that new initiatives should focus on encouraging, facilitating and coordinating collaboration of technology and expertise for genuine mutual benefit.

Both said the opportunities in each other’s markets, which is of interest to businesses of both the countries should be explored.

They noted the increase in engagement between both the countries under a collaborative approach that engages officials from across relevant government departments and the private sector, wherever appropriate. 

Ministers informed that the joint stakeholder consultations held with the industries of both the sides and a broad agreement reached to constitute working groups on subjects of mutual interest.  

These would be in addition to and in support of existing initiatives and bilateral consultative forums, designed to strengthen trade and industry cooperation and collaboration activities between both the sides. 

Amongst others, it includes possible innovative technical collaboration in the field of agriculture and horticulture including Kiwi fruit; pharmaceuticals; processing, storage & transportation etc.

On the trade facilitation side, Ministers acknowledged the joint effort to find a feasible alternative to allow import of wooden logs from New Zealand.  (KNN Bureau)