New Zealand keen for early FTA finalisation: PM
By TIOL News Service
NEW DELHI, OCT 27, 2016: THE New Zealand Prime Minister, Mr John Key, has said that his country is keen on partnering with India, particularly through early conclusion of the bilateral free trade agreement. The Prime Minister was addressing a Business Session organized by the Confederation of Indian Industry (CII), the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM) in New Delhi yesterday.
The Prime Minister stated that India is a strong dominant player in the world today and the reform measures being taken would further boost its growth. He stated that the two countries should look beyond traditional areas such as agriculture and food processing and explore areas like High Technology manufacturing, IT, and e-commerce, among others.
The Prime Minister pointed out that a large number of technology companies are already forming joint ventures with Indian companies and taking advantage of the time difference.
He stated that both countries need to be ambitious while negotiating the India-New Zealand Free Trade Agreement (FTA). Citing the example of China, the Prime Minister stated that New Zealand had signed an FTA with them in 2008. Today, New Zealand's trade with China is six times the level that exists with India.
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