Bilateral Meeting between India and New Zealand

  • Union Minister of Commerce and Industry, Piyush Goyal met Minister for Trade of New Zealand, Todd McClay.

India View:

  • Importance of trade facilitation
  • Measures to streamline trade processes
  • Reduce trade barriers
  • Promote a more conducive environment for businesses and investors from both nations

New Zealand View:

  • Appreciated efforts by India to sort out the issue related to the export of wooden logs to India.
  • Commended India’s Presidency of G20.

Key Out Comes:

  • Need to deepen engagement in sectors such as agriculture, forestry, pharma, connectivity, education and tourism.
  • 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 acknowledged.
  • New initiatives should focus on the collaboration of technology
  • Opportunities in each other’s markets should be explored.
  • Support for a rules-based, transparent, and inclusive multilateral trading system.
  • Issues related to the World Trade Organisation (WTO) Ministerial Conference (MC).
  • Assured each other of cooperation to decide on the long-standing issue of Public Stock Holding (PSH) during MC13.
Posted in Current Affairs.