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India & New Zealand ministers forge path for stronger trade ties

30 Aug '23
2 min read
Damien O
Damien O'Connor (left), New Zealand's minister for trade and export growth, and Piyush Goyal (right), Indian minister of commerce and industry, and textile. Pic: Piyush Goyal/X (formerly Twitter)

Insights

  • Indian commerce minister Piyush Goyal and New Zealand's trade minister Damien O'Connor met in New Delhi to bolster trade and economic ties.
  • They focused on enhancing business engagement, exploring mutual market opportunities, and fostering innovation.
  • The meeting aims to build on earlier discussions between the two countries' prime ministers.
In a significant move to bolster trade and economic relations, Piyush Goyal, Indian minister of commerce and industry, and textile, met with Damien O’Connor, New Zealand’s minister for trade and export growth, in New Delhi yesterday. This bilateral meeting is part of a sustained effort by both governments to develop a broad-based relationship and follows a meeting between the prime ministers of both nations in Port Moresby on May 22, 2023.

During the meeting, both ministers acknowledged the strong uptick in engagement between businesses in the two countries and the importance of ensuring this momentum extends into the government-to-government dialogue. They committed to strengthening the trade and economic relationship by testing new and innovative approaches to economic partnership. It was also noted that future initiatives should focus on encouraging, facilitating, and coordinating the collaboration of technology and expertise for genuine mutual benefit, the ministry of commerce and industry said in a press release.

Furthermore, the ministers agreed on the need to explore the opportunities present in each other's markets, which could be of interest to businesses from both countries. The meeting concluded with a recognition of the increased engagement between India and New Zealand under a collaborative approach that includes officials from across relevant government departments and the private sector. This broader, more informal engagement is aimed at generating fresh ideas for new, innovative, and productive areas of partnership between the two nations.

ALCHEMPro News Desk (DP)

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