Recently, an inaugural Round Table Joint Meeting took place in New Delhi between India and New Zealand. These meetings included representatives from industrial sectors and associations of both nations. The meeting was jointly led by the Additional Secretary, Department of Commerce and the High Commissioner of New Zealand.
Key Highlights from the Meeting
In the meeting, both nations acknowledged the enormous potential in their collaboration endeavors. This requires a strategic focus on enhancing economic relations in fields of mutual interest. The discussions were centered more on exploring areas of synergy rather than focusing only on free trade agreements. The conversation also focused on pushing forward the objectives of the Joint Trade Committee (JTC), which was formed under the Bilateral Trade Agreement of 1986.
New Zealand emphasized the importance of facilitating trade and association with private sectors. Key areas of focus include promoting the Unified Payment Interface (UPI) system, collaboration on carbon credit, and addressing issues related to non-tariff measures for bilateral business gains. Both nations also discussed improving air connectivity between India and New Zealand.
New Zealand – Important Facts
New Zealand, also known as Aotearoa in Maori, is a parliamentary democracy with Wellington as its capital. The country primarily communicates in English and Maori. The currency is the New Zealand dollar. The two main islands, North and South are separated by the Cook Strait.
India–New Zealand Relations
India’s relationship with New Zealand can be traced back to the 1800s, when Indians settled in Christchurch around the 1850s. Since then, there have been numerous immigrants from Punjab and Gujarat moving to New Zealand.
Despite some shared colonial history, political relations between the two countries have remained friendly because of their shared values in parliamentary democracy, the English language, disarmament, human rights, ecological preservation, and combating international terrorism.
Cooperation During Covid-19 Pandemic
The Covid-19 pandemic saw widespread cooperation between India and New Zealand. Both countries ensured the continuity of supply chains of essential commodities, medicines, and vaccines. They facilitated repatriation of each other’s nationals stranded by the epidemic.
Trade Relations
India is currently New Zealand’s 11th largest two-way trading partner with total two-way trade valued at USD 1.80 billion during the year ending September 2020. Education and tourism are emerging as New Zealand’s growth sectors with India. Moreover, India mostly imports logs, forestry products, wool, and edible fruit & nuts from New Zealand, while its chief exports are pharmaceuticals/medications, precious metals, gems, textiles, and motor vehicles including non-knitted apparel and accessories.
Business Alliances
The India-New Zealand Business Council (INZBC) and India New Zealand Trade Alliance (INZTA) are prime organizations working to strengthen India-NZ trade and investment relations.
Cultural Relations
Indian festivals such as Diwali, Holi, Rakshabandhan, Baisakhi, Guruparv, Onam, Pongal, are celebrated with great fervor all over New Zealand. The country hosts approximately 2,50,000 persons of Indian origin & NRIs, a vast majority of which have made New Zealand their permanent home.
Civil Aviation Cooperation
Given the large Indian diaspora in New Zealand and increasing two-way tourism flow, there is a strong case for a direct air connection between the two countries. This could potentially impact all aspects of bilateral relations positively. Direct flights operated under the Vande Bharat Mission have strengthened the prospects of a direct weekly flight as and when the commercial feasibility for airlines becomes possible.
