Government delegates from India and New Zealand held a series of bilateral meetings between April 26th and 27th this year in New Zealand. Both countries plan to collaborate in industries such as pharmaceuticals, agriculture, and food processing. India and New Zealand recognize the massive potential for mutual trade between the two nations.
India's delegation was led by Commerce Secretary Sunil Barthwal, while New Zealand's delegation consisted of Todd McClay, the Minister of Trade, and Brook Barrington, the Secretary of Foreign Affairs and Trade.
Both delegations also acknowledged the potential for people-to-people contacts across sectors like agriculture, forestry, pharmaceuticals, and food processing. Mr. Barthwal also took part in the India-New Zealand Business Council (INZBC) meeting and the 11th India-NZ Joint Trade Committee (JTC).
The collateral meetings addressed a host of challenges for both countries including:
The two countries also discussed mutual cooperation in the horticulture sector – particularly in kiwi fruits – addressing the problems of quality, productivity, storage, and transportation. The press release stated that “Once working groups are established, India and New Zealand will review the progress made by those working groups and the recommendations thereof at regular intervals.”
The delegation members also explored other opportunities in areas such as dairy products and digital trade. This included leveraging international platforms like the G20 and Indo-Pacific Economic Framework for Prosperity (IPEF) for economic opportunities. Both countries also reiterated their commitment to uphold the principles of the World Trade Organization (WTO) including the rules-based global trading system.
Further, the two nations also committed to improving the scale of bilateral trade by increasing business-to-business interactions – as well as people-to-people contacts. Special emphasis was placed on the services sector and the urgent need to reduce the skills gaps – through a strong capacity-building and mobility program. The delegates also touched upon the hospitality sector areas such as adventure tourism, telemedicine, air connectivity, education, and collaborative R&D (wherever required).
Other industries in focus included pharmaceutical and medical devices – involving the faster tracking of regulatory policies in these industries and quality control or assessment of their manufacturing plants. New Zealand's Commerce Department later issued a statement about “Greater sourcing of medicines from India and cooperation in the medical device sector was also discussed.”
Regarding the domain of digital trade, both parties discussed the scope for creating a cross-border payment system and achieving nationally determined contributions.
Published in June 2024 by the INZBC, Patrick Rata, N.Z. 's high commissioner for India discusses the need to strengthen bilateral ties with India. He talks about having high-level engagements between the two nations – as well as collaboration in various sectors including:
Similarly, in June this year, India's presence at the 1st IPEF Clean Economy Investor Forum reiterates its mission to build sustainable infrastructure and climate technology. The New Zealand Trade and Enterprise (NZTE) delegates also participated intending to invest with the leading climate change technology companies.
Overall, the forum was designed to build collaboration among top climate technology firms and investors. India’s role as a global partner is crucial for growing the global market for clean energy and sustainability technologies.
Going ahead, delegates from both India and New Zealand agreed on the importance of continued dialogue to take forward their mutual association and cooperation. To this effect, both sides committed to having regular meetings at multiple levels. Through this collaboration, India and New Zealand plan to work on various business activities – and explore new possibilities in the future.
This year’s meeting marked a pivotal moment for both India and New Zealand to strengthen their economic ties – and scale the current ties to the next level with business contacts and people-to-people contacts.