India & Kiwis set sights on NZ $7 bn trade goal
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Live Events as a Reliable and Trusted News Source Addas a Reliable and Trusted News Source Add Now! (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India and New Zealand on Saturday (local time) elevated their bilateral relationship to a "Strategic Partnership" and adopted the "India-New Zealand Strategic Partnership: Roadmap to 2030", setting out an ambitious framework to deepen cooperation across trade, agriculture, security, innovation and people-to-people ties over the next four years.According to the India-New Zealand Joint Statement, the two Prime Ministers "decided to elevate the bilateral relationship to a 'Strategic Partnership'" and endorsed the "India-New Zealand Strategic Partnership: Roadmap to 2030" as "a framework to guide joint action over the next four years."The Joint Statement added that the two leaders "agreed to an ambitious long-term vision for the Strategic Partnership, which aims to take bilateral relations to a new level, strengthen existing cooperation mechanisms and explore new avenues for deepening cooperation, both bilaterally and multilaterally."Prime Minister Narendra Modi is on an official visit to New Zealand on July 10-11 at the invitation of Prime Minister Christopher Luxon. The visit is the first by an Indian Prime Minister to New Zealand in 40 years.Under Pillar III of the Roadmap on Trade and Economic Cooperation, both countries agreed to "work towards an aspirational goal of doubling bilateral two-way trade in goods and services to NZD 7 billion (₹35,000 crore) by 2030."The roadmap also states that both sides will "work together on next steps for the India-New Zealand Free Trade Agreement to ensure its early entry into force and effective implementation."Echoing this commitment, the Joint Statement said the Prime Ministers "welcomed the conclusion and signature of a balanced, comprehensive and mutually beneficial India-New Zealand Free Trade Agreement (FTA)" and agreed "to work together to ensure its early entry into force and effective implementation."The Joint Statement noted that the leaders recognised "the important role of the FTA in strengthening the bilateral economic partnership, including through the removal of barriers to trade, increased cooperation, and New Zealand's promotion of investment into India."It further said New Zealand "can support India's Viksit Bharat goal to become a developed country by 2047, including through cooperation in trade, agriculture, skills, innovation, clean energy, sport, and other areas."On customs cooperation, the Roadmap provides for operationalising the "2025 Authorised Economic Operators Mutual Recognition Arrangement (AEO-MRA) under the aegis of the 2024 Customs Cooperation Arrangement (CCA) to simplify customs processes and facilitate trusted trade."The two leaders also welcomed the signing of a Memorandum of Arrangement on Tourism and "encouraged airlines to commence direct non-stop flights between India and New Zealand."The Joint Statement highlighted expanding cooperation in primary industries, including horticulture, forestry, animal husbandry and dairying, and welcomed the Agricultural Productivity Partnership under the FTA, including New Zealand's work with India on productivity action plans for kiwifruit, apples and honey, support for Centres of Excellence in kiwifruit in India, and the conclusion of a Memorandum of Cooperation on Animal Husbandry and Dairying.The leaders also welcomed continued dialogue between India's Directorate General of Shipping and Maritime New Zealand to strengthen recognition of seafarer competency certificates, noting that enhanced recognition would support seafarer mobility and strengthen cooperation between the two countries' maritime authorities.
The BriefWire