In a significant move to enhance bilateral relations, Bharat’s Union Minister of Commerce and Industry, Piyush Goyal, engaged in a productive meeting with New Zealand’s Minister for Trade, Todd McClay, in New Delhi. The focus of the bilateral discussions, held on Tuesday, was to bolster trade relations between the two countries and explore opportunities for mutual growth and cooperation.
Trade Facilitation and Mutual Growth
The meeting emphasized the importance of trade facilitation, aiming to streamline trade processes, reduce barriers, and create a more favorable environment for businesses and investors from both nations. Both leaders acknowledged the longstanding friendly relations between Bharat and New Zealand, expressing their commitment to further enhancing bilateral trade, investment, and economic cooperation.
Recognition of Bharat’s Efforts and Global Leadership
The Trade Minister of New Zealand praised Bharat’s efforts in addressing issues related to the export of wooden logs to Bharat. Additionally, he commended Bharat’s Presidency of the G20, recognizing it as a significant milestone in finding practical global solutions for the benefit of all.
Diverse Sectors of Collaboration
The leaders highlighted the need to deepen engagement in various sectors, including agriculture, forestry, pharmaceuticals, connectivity, education, and tourism. They acknowledged the strong increase in business engagement between the two countries and stressed the importance of ensuring that this momentum contributes to government-to-government dialogues.
Commitment to Regular Meetings and Collaboration
Both Ministers emphasized the significance of the annual Joint Trade Committee (JTC) meeting and committed to regular bilateral discussions on trade and investment issues. They underscored the need for collaborative approaches involving officials from relevant departments and the private sector, focusing on creating working groups for fresh ideas and innovative approaches to economic partnership.
Global Trade Dynamics and Support for Multilateral Systems
The Ministers exchanged views on global trade dynamics and reaffirmed their support for a rules-based, transparent, and inclusive multilateral trading system. Discussions included issues related to the World Trade Organization (WTO) Ministerial Conference, with a positive approach to deciding on the long-standing issue of Public Stock Holding (PSH) during MC13.
Optimism for Deeper Cooperation
Both Ministers expressed optimism about the potential for deeper cooperation and reiterated their commitment to continuing constructive dialogue. The meeting concluded on a positive note, with a mutual understanding to work closely towards expanding the economic partnership for the benefit of both countries.
Comments