Narendra Modi and New Zealand PM talk terror
New Zealand PM, John Key, who is currently in India on a bilateral visit, was briefed by PM Modi on terrorism that emanated from Pakistan and recent attacks on Indian soil. Reportedly, PM Modi "forcefully" conveyed India's deep concern over cross-border terrorism that India was a victim of. Subsequently, Key and Modi, made a statement calling to eliminate safe-havens, infrastructure and financing to terror-networks.
New Zealand PM, John Key's India visit
New Zealand's PM, John Key, arrived in India on Wednesday, October 26. Key arrived with a business delegation of 35 members; the focus of the visit is to tap Indian market's immense potential: both, India and New Zealand, have reiterated their commitment to negotiate improved trade and investment agreements. The agenda of the visit also includes strengthening social and political-ties between both countries.
Promising trade sectors
According to a report by former New Zealand High Commissioner, Graeme Waters, trade between India and New Zealand in the future lies in service sectors such as film making, IT, fashion design and aviation.
Free Trade Deal
Trade between NZ and India has increased by 42 percent over the last five years, however New Zealand is keen to push for a Free Trade Agreement (FTA). Since early 2010, 10 rounds of negotiations have been held on FTA. But a deal haven't been arrived at. One of the key concerns for New Zealand is India's exceptionally high agricultural-tariffs.
Diversifying trade partners
India is set to be the world's most populous country by 2026 and for New Zealand a trade deal with India is worth billions of dollars. New Zealand currently does business with China worth $20 billion and believes the Indian market to have similar prospects.
Other areas of likely collaboration
Given that massive 40-50 percent of the food in India goes waste, NZ believes its storage and distribution systems can help India in its "quest for food security." John Key believes NZ could help India identify sustainable ways to keep up with development as New Zealand's electricity company, Wellington, generates 83% electricity from renewable sources and is considered a "world leader" in geothermal energy.
New Zealand and India sign agreements
India and New Zealand signed three agreements pertaining to cooperation in the field of youth and sport affairs, avoidance of double taxation and food safety cooperation in the presence of both prime ministers after their one-on-one meeting in New Delhi today.
Joint Statement after Key-Modi talks
"Both sides called for the early adoption of the Comprehensive Convention on International Terrorism (CCIT) that would contribute to the further strengthening of the international counter-terrorism legal framework."
