Introduction
In the ever-evolving landscape of international relations, diplomatic meetings serve as vital platforms for fostering bilateral ties and nurturing mutual understanding. India and New Zealand had their first-ever Round Table Conference on June 8th, 2023, in a remarkable step towards strengthening their partnership. This meeting established the groundwork for a potential future of strengthened ties through the identification of numerous possibilities of collaboration, including the facilitation of the UPI system, carbon credit, a Kiwi fruit package proposal, a trans-shipment hub, technological collaboration, cooperation in work visas, and banking.[i]
Setting the Stage in New Delhi
The choice of New Delhi as the conference location emphasised the nation’s significance as a diplomatic hub while also showcasing the country’s rich cultural heritage. The conference acted as a testament to India and New Zealand’s pleasant and cordial relations, offering an ideal backdrop for significant discussions and exploring issues of mutual interest. It was co-chaired by the Additional Secretary, Department of Commerce, Government of India, Shri Rajesh Agarwal and High Commissioner of New Zealand in India, Mr. David Pine. In the meeting, industry representatives of the two countries discussed the current quantum of bilateral trade issues and acknowledged the untapped potential between the two countries that needs to be cultivated through further economic cooperation in areas of mutual interest.[ii]
Agenda and Discussions
The first Round Table Conference between India and New Zealand covered a wide range of topics, focusing on strengthening ties in multiple domains.” It was widely acknowledged that there was a need to explore possibilities beyond any FTA and examine other areas where the two might benefit each other. According to the official statement, the discussions also focused on attaining the goals of the Joint Trade Committee (JTC), which was established under the 1986 bilateral trade agreement.[iii]
During the first India-New Zealand Round Table Joint Meeting in New Delhi, the New Zealand High Commissioner highlighted the importance of collaboration and mutual benefit. Key areas of focus included support for the Unified Payments Interface (UPI) system, cooperation on carbon credits, economic collaboration through sectoral arrangements, and specific proposals for bilateral gains. The High Commissioner also emphasized the significance of improving air connectivity and referred to a report titled “India New Zealand – A relationship poised for the next phase” in April 2023 released by the India-New Zealand Business Council, which outlines areas of cooperation for economic success.[iv]
Representatives from various Indian industries, including IT, logistics, banking, food processing, pharmaceuticals, automotive, construction, and energy, provided valuable insights on bilateral issues and highlighted India and New Zealand’s enormous potential and opportunities for collaboration. According to an official press release, these ties and activities are expected to boost both economies[v]. Overall, the Round Table Joint Meeting provided a forum for India and New Zealand to explore and discuss joint initiatives across sectors, with the goal of strengthening the economic relationship and maximizing their shared benefits.
Outcomes and Future Prospects
The Round Table Joint Meeting between India and New Zealand yielded fruitful outcomes, laying the groundwork for further cooperation and prospects. The identification of matters such as the facilitation of the UPI system, the proposal of a Kiwi fruit package, and the establishment of a trans-shipment hub emphasized both countries’ willingness to deepen commercial ties. This alliance has the potential for her to unlock new trade opportunities, boost investment, and promote economic growth. The discussions on carbon credit projects demonstrated India and New Zealand’s shared commitment to address climate change. By exploring alternatives for collaboration in renewable energy and carbon sequestration, both countries can contribute to global climate change mitigation efforts.
The emphasis on technical collaboration opens the door to joint innovations, research, and development. By leveraging each other’s expertise, India and New Zealand could produce technical advances, encouraging growth and competitiveness in vital sectors. Work visa and banking collaboration aims to allow seamless mobility and economic integration. This will not only strengthen people-to-people relationships, but will also promote cultural understanding, tourism, and educational exchange between the two countries.
Conclusion
The first India-New Zealand Round Table Joint Meeting held in New Delhi on 8th June 2023 showcased the shared commitment of both nations to strengthen bilateral ties across various sectors. The conference emphasized both nations’ shared commitment to pursuing new paths of partnership in a variety of disciplines, ranging from trade and investment to technological collaboration, work visa cooperation, and sustainability. By capitalising on these opportunities, India and New Zealand can establish a strong alliance that will propel economic growth, innovation, and sustainability.
[i] PIB Delhi, “1st Round Table Joint meeting between India and New Zealand held,” Ministry of Commerce & Industry, https://pib.gov.in/PressReleasePage.aspx?PRID=1930880
[ii] ibid
[iii] ibid
[iv] ibid
[v] ibid
Authored By: Ananya Tomar, Research Intern, USI, CS3