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3 May 2024 : PIB Summary for UPSC

1. India and New Zealand to have deeper collaboration in Pharma, Agriculture and Food Processing Industries, among others

Topic: GS2 – International Relations – Bilateral Relations
Context
●  11th India-New Zealand Joint Trade Committee (JTC) Meeting, convened in New Zealand to strengthen bilateral relations.

●  Discussions focused on enhancing trade and cooperation, addressing market access issues, and exploring opportunities in sectors like agriculture, pharmaceuticals, and services.

● Both sides emphasized the need for increased collaboration and committed to regular meetings to resolve issues and explore new avenues of cooperation.

 Analysis of the news:

  • The 11th India-New Zealand Joint Trade Committee (JTC) Meeting was held in New Zealand, led by Commerce Secretary Shri Sunil Barthwal.
  • Discussions aimed to deepen bilateral relations, focusing on enhancing bilateral trade and cooperation.
  • Both sides recognized the vast potential and mutual complementarities in their economies, emphasizing the need to increase trade and people-to-people contacts.
  • Key areas of discussion included market access issues, economic cooperation projects, and opportunities for new initiatives.
  • Working groups were proposed for sectors like Agriculture, Food Processing, Forestry, Pharmaceuticals, and horticulture, including the kiwi fruit and dairy sectors.
  • Issues related to market access, non-tariff barriers, and sanitary and phytosanitary measures were addressed, with a commitment to resolve them through constructive dialogue.
  • Special focus was given to enhancing the services sector for bilateral trade, with discussions on areas such as hospitality, tourism, nursing, tele-medicine, education, and air connectivity.
  • Collaboration in the pharmaceuticals and medical devices sector, including fast-tracking regulatory processes and quality assessment, was discussed.
  • Opportunities for collaboration in digital trade, cross-border payment systems, and engagement in platforms like G20 and Indo-Pacific Economic Framework for Prosperity (IPEF) were explored.
  • Both parties reaffirmed their commitment to the principles of the World Trade Organization (WTO) and agreed to hold regular meetings to address issues and explore collaborative activities.
Complementary Nature of India – New Zealand Relations
Economic Cooperation: India’s large market complements New Zealand’s expertise in agriculture, dairy, and technology, fostering bilateral trade focusing on agriculture, food processing, and renewable energy sectors.

Strategic Partnerships: Common values like democracy and multiculturalism strengthen diplomatic ties, enhancing collaboration in international forums to promote shared interests.

●  People-to-People Ties: Cultural exchanges and educational linkages promote mutual understanding and cooperation, while the presence of a significant Indian diaspora in New Zealand strengthens connections.

Tourism and Education: India serves as an emerging source market for New Zealand’s tourism and education sectors, benefiting from collaboration in tourism promotion and educational exchange programs.

●  Potential for Collaboration: Opportunities exist in renewable energy, technology innovation, and sustainable development, with enhanced cooperation in trade, investment, and strategic partnerships deepening the multifaceted relationship.

Practice Question:  How do India and New Zealand plan to deepen bilateral relations, particularly in trade and economic cooperation, (150 Words /10 marks)

 

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