1st Round Table Joint Meeting between India and New Zealand

• 09 Jun 2023

On June 8, 2023, the first Round Table Joint Meeting between India and New Zealand, involving industry and industry associations from both countries, was held in New Delhi.

Key Highlights

• Acknowledging the Partnership Potential: Both sides acknowledged the significant potential in the India-New Zealand partnership and the need for synergy to enhance economic relations in areas of mutual interest.
• Exploring Beyond Free Trade Agreements: It was agreed that there is a need to explore areas beyond free trade agreements where both countries can complement each other.
• Advancing the Objectives of the JTC: The discussions focused on advancing the objectives of the Joint Trade Committee (JTC) established under the Bilateral Trade Agreement of 1986.
• Emphasizing Collective Efforts and Principles: The New Zealand emphasized collective efforts based on principles of mutual benefit, proportionality, trade facilitation, and association with the private sector.
• Areas of Potential Cooperation Explored: Areas of potential cooperation explored included the promotion of the Unified Payment Interface (UPI) system, carbon credit cooperation, sectoral arrangements for economic cooperation.
• Strengthening the Institutional Mechanism: Strengthening the institutional mechanism for bilateral trade was emphasized, including the creation of a structure for cooperation and collaboration, potentially through the establishment of a working group at the Joint Secretary level.
• Tentative Areas of Cooperation Identified: Tentative areas of cooperation identified included UPI system facilitation, carbon credit, package proposal on Kiwi fruits, trans-shipment hub, prioritization of bilateral trade issues, collaboration on technology, cooperation in work visa-related issues, and improving banking relations.