India-New Zealand
Strengthen Bilateral Ties: A New Era of Trade, Investment and Cooperation: Mr
Ashwani Kumar, President, FIEO
The Federation of Indian Export
Organizations (FIEO) welcomes the recent landmark statements by the
Hon'ble Prime Ministers of India and New Zealand, highlighting the growing
strength of trade, investment, and financial cooperation between the two
nations. This announcement signals an exciting new chapter in the economic partnership
between India and New Zealand, promising substantial opportunities for Indian
exporters, businesses, and industries alike.
In their joint statement, the Prime
Ministers expressed satisfaction with the steady growth of trade and investment
between the two countries. They also emphasized the untapped potential for
further expansion of bilateral trade, urging businesses on both sides to
strengthen their ties and explore new economic opportunities. FIEO President Mr
Ashwani Kumar fully supports this vision, noting that Indian exporters are
eager to tap into new markets in New Zealand.
The leaders also reaffirmed their
commitment to enhancing two-way investment, which will reflect the dynamic
momentum of the growing trade relationship. Mr Kumar shared his optimism,
stating that these discussions will create new opportunities for Indian
businesses to expand into New Zealand, particularly in sectors such as
agriculture, digital payments, and sustainable development.
One of the key announcements was the launch
of Free Trade Agreement (FTA) negotiations between India and New Zealand. FIEO
is confident that this balanced, ambitious, and mutually beneficial agreement
will deepen economic integration and create a more conducive environment for
Indian exports. Mr Kumar added, "The FTA will open doors for Indian
businesses, enabling easier and more predictable access to New Zealand's
market."
In addition to the FTA, both countries
are exploring the early implementation of cooperation in digital payments. This
forward-thinking collaboration is expected to enhance technological innovation
and financial inclusion, improving the ease of doing business for Indian
exporters by providing more secure and efficient payment systems for
cross-border transactions.
Another exciting development was the
signing of the Authorized Economic Operators Mutual Recognition Arrangement
(AEO-MRA) under the Customs Cooperation Arrangement (CCA) in 2024. This
agreement will simplify customs procedures and remove trade barriers, facilitating
smoother movement of goods and boosting trade by fostering greater cooperation
between customs authorities.
Tourism, an important driver of
economic growth, also received attention in the leaders' statement. FIEO
recognizes the potential of increased tourism flows between India and New
Zealand and celebrates the update to the India-New Zealand Air Services
Agreement. The introduction of direct, non-stop flights between the two
countries will not only strengthen business and trade links but will also bring
people closer together, further enhancing engagement between Indian and New
Zealand businesses.
As India and New Zealand continue to
strengthen their economic ties, FIEO remains committed to helping Indian
businesses capitalize on the opportunities created by these exciting new
initiatives. The Federation looks forward to the successful realization of
these agreements, driving inclusive, sustainable, and mutually beneficial
growth for both the nations.
