Yesterday, at New Delhi, Union Minister of Commerce and Industry, Shri Piyush Goyal engaged in a bilateral meeting with the esteemed Minister for Trade of New Zealand, Hon. Todd McClay. The primary objective of the meeting was to bolster trade relations between India and New Zealand while exploring opportunities for mutual growth and cooperation.
Both Minister Goyal and Minister McClay acknowledged the significance of trade facilitation and deliberated on methods to streamline trade processes, diminish trade barriers, and foster a more conducive environment for businesses and investors from both nations. During the discussions, the Trade Minister of New Zealand praised India’s efforts in addressing issues related to the export of wooden logs to India. Additionally, he commended India’s G20 Presidency and its outcomes, recognizing them as significant milestones toward finding global solutions beneficial to all.
Highlighting the enduring friendly relations established on mutual trust and respect, both Ministers expressed commitment to further bolstering bilateral trade, investment, and economic cooperation. They emphasized the necessity to deepen engagement across sectors such as agriculture, forestry, pharma, connectivity, education, and tourism.
Acknowledging the heightened engagement between businesses in both countries, Ministers stressed the importance of leveraging this momentum for Government-to-Government dialogue. The significance of the Joint Trade Committee (JTC) annual meeting, established under the 1986 India-New Zealand Trade Agreement, and consistent high-level engagement was also recognized. It was agreed upon that regular bilateral discussions on trade, investment issues, and collaborative activities should take place at convenient intervals.
In their commitment to fortify the trade and economic relationship, the Ministers advocated for increased engagement under a collaborative approach involving officials from relevant departments and the private sector. They proposed the formation of working groups on specific areas of mutual interest to generate innovative approaches for economic partnership. Emphasis was placed on fostering collaboration in technology and expertise for mutual benefit, along with exploring market opportunities in both countries.
Additionally, the Ministers exchanged perspectives on global trade dynamics and reiterated their support for a rules-based, transparent, and inclusive multilateral trading system. They briefly touched upon issues concerning the World Trade Organisation (WTO) Ministerial Conference (MC) and assured each other of cooperation to address the long-standing issue of Public Stock Holding (PSH) during MC13.
Expressing optimism about the potential for deeper cooperation, both Ministers reaffirmed their commitment to continued constructive dialogue, aiming to fortify the bilateral relationship. The meeting concluded on a positive note, with mutual agreement to sustain close collaboration to expand the economic partnership for the benefit of both nations.