India and New Zealand Strengthen Ties Ahead of PM Modi’s Visit
In a significant move to bolster economic relations, Union Minister of Commerce and Industry, Shri Piyush Goyal, engaged in high-level bilateral talks with Mr. Todd Michael McClay, New Zealand’s Minister for Trade and Investment, during the WTO’s MC14 event. The discussions primarily revolved around preparations for Prime Minister Shri Narendra Modi’s upcoming visit to New Zealand, a trip that both nations are eagerly anticipating.
Both ministers expressed enthusiasm for the Prime Minister’s visit, with New Zealand confirming that they are in the process of finalizing a comprehensive list of deliverables that aim to enhance collaboration between the two countries. Additionally, New Zealand plans to host a high-level business delegation during this visit, signaling a strong commitment to fostering economic ties.
Focus on India-New Zealand Free Trade Agreement
During the discussions, the ministers took a moment to assess progress towards the signing of the newly concluded India-New Zealand Free Trade Agreement (FTA). The dialogue also explored opportunities for practical cooperation beyond the formal FTA framework, emphasizing sectors such as sports and agriculture. A notable highlight was the discussion on training Indian farmers in the cultivation of kiwis and apples, which reflects a shared interest in agricultural collaboration.
Commitment to WTO Reform and Cooperation
At the heart of the MC-14 agenda, India reiterated its dedication to a member-driven World Trade Organization (WTO). Minister Goyal stressed the necessity for the General Council to spearhead reform initiatives. Both sides exchanged valuable insights regarding various agenda items, including the moratorium on customs duties on electronic transmissions and the inclusion of the Investment Facilitation for Development Agreement. India highlighted the importance of achieving clarity and making progress on past commitments to ensure the WTO’s credibility. New Zealand acknowledged these concerns, advocating for enhanced member engagement to maintain productive dialogue and the effective functioning of the WTO amid current challenges.
Prior to the bilateral meeting between the ministers, Commerce Secretary Shri Rajesh Agrawal also held discussions with his New Zealand counterpart, Mr. Vangelis Vitalis, Deputy Secretary for Trade and Economic Affairs. This meeting further exemplifies the commitment of both nations to strengthening bilateral ties and enhancing trade and investment opportunities.
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