Rt. Hon John Key, Prime Minister of New Zealand, emphasized 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.

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.

Ms. Shobana Kamineni, President Designate, CII complimented New Zealand for being ranked Number one in the World Bank’s Ease of Doing Business rankings.

Five MoU’s were signed during the session:

  • Zindia Ltd. and Adani Ports and SEZ Ltd
  • InterGlobe Aviation Limited (IndiGo) and CTC Aviation Group Limited
  • Media Design School with Pearl Academy
  • Ara Institute of Canterbury and Kumaraguru College of Technology (KCT)
  • Memorandum of Understanding between University of Otago and BSE Institute Ltd

Source:  CII