Union Minister of Commerce and Industry, Piyush Goyal, recently engaged in a bilateral meeting with New Zealand’s Minister for Trade, Todd McClay, to bolster the trade ties and explore avenues for mutual growth and collaboration. The discussions mainly focused on trade facilitation and measures to streamline trade processes, eliminate trade barriers, and foster a favourable environment for businesses and investors from both nations.
During the meeting, McClay expressed appreciation for India’s efforts in resolving the wooden logs export issue. He also lauded India’s presidency of the G20 and highlighted its significant milestones in seeking global solutions for the benefit of all. Both ministers emphasized the need to strengthen the trade and economic relationship by promoting engagement between relevant departments and the private sector.
To encourage new and innovative approaches to economic partnership, the leaders proposed the formation of working groups on specific areas of mutual interest. They underscored the importance of collaboration in technology and expertise to create genuine mutual benefits. Additionally, both ministers acknowledged the long-standing friendly relations between their countries and expressed commitment to further enhancing bilateral trade, investment, and economic cooperation.
Sectors like agriculture, forestry, pharma, connectivity, education, and tourism were identified as key areas for deepening engagement. The ministers also emphasized the importance of the annual meeting of the Joint Trade Committee (JTC) established under the India-New Zealand Trade Agreement. They agreed to meet regularly to discuss trade, investment, and cooperative activities.
Furthermore, the ministers engaged in discussions regarding the upcoming World Trade Organization (WTO) Ministerial Conference (MC) and assured cooperation and understanding in deciding on the long-standing issue of Public Stock Holding (PSH) during MC13.
The bilateral meeting marked a significant step forward in enhancing the trade relationship between India and New Zealand and exploring new avenues for economic cooperation and growth.
