Indian Economy News

India and New Zealand to have deeper collaboration in Pharma, Agriculture, and Food Processing Industries, among others

A delegation led by Commerce Secretary Mr. Sunil Barthwal conducted constructive meetings in New Zealand from 26-27 April 2024, aimed at deepening bilateral relations. Discussions with key stakeholders, including New Zealand's Minister for Trade and officials, focused on enhancing economic ties. Both parties acknowledged the vast potential for increasing trade and people-to-people contacts, particularly in sectors like agriculture, food processing, forestry, and pharmaceuticals.

The meetings addressed market access issues, non-tariff barriers, and sanitary measures on specific products, with commitments to resolve these through dialogue. Emphasis was placed on strengthening the services sector, including hospitality, nursing, and tele-medicine, to facilitate business-to-business and people-to-people connections. Collaboration in pharmaceuticals and medical devices, digital trade, and engagement in global platforms like the WTO and G20 were also discussed to foster economic cooperation and address shared challenges.

Opportunities for joint initiatives in areas like horticulture, dairy, and digital trade were explored, with both sides reaffirming their commitment to a rules-based international trading system. Discussions also included cooperation within platforms such as the Indo-Pacific Economic Framework for Prosperity (IPEF) to leverage economic opportunities effectively. Overall, the meetings marked a significant step in strengthening economic ties and fostering collaboration between India and New Zealand.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.