collaborative-efforts-aim-to-boost-india-new-zealand-trade-in-key-sectors

India and New Zealand is set to strengthen their trade ties by enhancing cooperation in various sectors, including pharmaceuticals, digital trade, and cross-border payment systems.

 

The discussions to strengthen bilateral trade took place during the recent visit of Commerce Secretary Sunil Barthwal to New Zealand from April 26-27.

 

The Indian commerce ministry highlighted the significant potential for furthering bilateral trade between the two economies.

 

Both sides reviewed progress on market access issues, ongoing economic cooperation projects, and explored avenues for new initiatives during the meetings.

 

Efforts were made to establish a robust bilateral economic dialogue architecture, with the creation of working groups in sectors such as Agriculture, Food Processing, Storage and Transportation, Forestry, and Pharmaceuticals.

 

These groups aim to facilitate continuous collaboration on key trade and economic matters.

 

Additionally, discussions encompassed expanding cooperation in sectors like kiwi fruit and dairy, reflecting the breadth of opportunities for mutually beneficial partnerships.

 

Addressing bilateral trade matters, the discussions touched upon issues related to market access, non-tariff barriers, and sanitary and phytosanitary measures for products such as grapes, okra, and mangoes.

 

Both parties expressed commitment to resolving these issues through constructive dialogue and cooperation.

 

The talks also delved into the Mutual Recognition Arrangement (MRA) in organic products, as well as simplifying homologation processes, including mutual recognition of comparable domestic standards for vehicles.

 

In the realm of pharmaceuticals and medical devices, there were detailed discussions on adopting expedited regulatory processes and ensuring quality assessments of manufacturing facilities.

 

The potential for increased sourcing of medicines from India and collaboration in the medical device sector was also explored.

 

Both parties briefly examined opportunities for collaboration in digital trade, meeting nationally determined contributions, and enhancing cross-border payment systems.