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Trade Minister Phil Goff and Indian Commerce and Industry Minister Kamal Nath have welcomed the strong progress being made towards a Free Trade Agreement between the two countries.
Minister Nath, accompanied by an Indian business delegation, arrived in New Zealand at the end of May to discuss issues around trade and a potential Free Trade Agreement with NZ Trade Minister Phil Goff. During his two day visit, he also met with Ministers Jim Anderton and Lianne Dlaziel and a number of New Zealand companies in Auckland and Queenstown.
A Joint Study Group (JSG), launched last year has been looking at the feasibility of New Zealand and India entering into a Free Trade Agreement. Both Ministers are very pleased with the progress being made by the JSG and are looking at the possibility of starting negotiations towards a Free Trade Agreement soon after the group concludes meetings.
The JSG has met twice in New Delhi and in Auckland, and it is hoped that this process will be concluded by the end of this year.
“Kamal and I agreed that while trade in the last few years has grown strongly to a current level of $630 million, this still falls well below the potential for trade between us. We need businesses in both countries to focus on trading opportunities in the other. The negotiation and the conclusion of a free trade agreement would have this effect.” Mr Goff said.
The business delegation which accompanied Minister Nath’s visit managed to secure some excellent linkages and contacts with New Zealand companies which will go on to enhance bilateral trade relations between New Zealand and India in the years to come.
For further information contact: Tara Morton, Asia Division tara.morton@mfat.govt.nz, or +64 4 439 8439
Last year Minister Goff and Indian Commerce and Industry Minister Nath reached agreement in principle to commence a study into the implications of a free trade agreement between India and New Zealand. A Joint Study Group (JSG) was formed, with Stephen Payton as the New Zealand Chair. Two productive meetings have been held in April and May.
The joint study will be comprehensive in nature covering all areas of potential interest for an FTA Negotiation. The third meeting of the JSG will be held in August, in India. As a result of the positive nature of the meeting and following discussion between Minister Goff and Minister Nath, the expected completion date of the study has been brought forward to October.
If you would like to receive further information on the work of the JSG as the year progresses, or if you have experiences and concerns that you wish to be taken into account in the preparation of the study, please feel free to email Stephen Payton at Stephen.Payton@mfat.govt.nz.
As part of his visit, Indian Commerce and Industry minister Kamal Nath, conferred one of India's highest civilian honours (the Padma Vibhushan) on Sir Edmund Hillary. Lady Hillary accepted it posthumously on his behalf on 22 May 2008.
