New Zealand and India have a lot in common – from their love for cricket to their Commonwealth heritage and much more. Despite this the bilateral trade between the two countries is yet to live up to its potential. In an exclusive interaction with The Dollar Business, Grahame Morton, High Commissioner of New Zealand to India, talks about various ways to improve social, political and trade ties between the two nations.
Grahame Morton (GM): New Zealand and India share a Commonwealth heritage, legal system, business language, a commitment to democracy and a love for cricket. We also share people. About 4% of New Zealand’s population is of Indian descent. The affinity and warmth between our two countries will deepen further as knowledge collaboration – for example on science, agriculture and education – and people and business connections grow.
The relationship with India is a priority for the New Zealand government, that in 2011 committed to developing India as a core trading, economic and political partner, through our negotiations of a mega-regional FTA called the Regional Comprehensive Economic Partnership (RCEP) and our bilateral FTA.
1890's: But don’t you think bilateral trade and economic relationship is currently way below potential, despite strong growth in recent years? What factors could be responsible for this?
GM: We could, and we should be doing more together. Bilateral trade in goods and services between New Zealand and India was worth around $2.2 billion in the last fiscal year. We have ambitions to grow this much further. New Zealand’s trade with India is around a tenth of our two-way trade with China, so there are definitely gains to be made.
This story is from the October 2016 edition of The Dollar Business.
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This story is from the October 2016 edition of The Dollar Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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