India-New Zealand Sign Historic Trade, Climate Pact

India New Zealand

India and New Zealand Strengthen Ties with Historic Trade and Climate Agreement

October 25, 2023
New Delhi, India

In a landmark move to bolster bilateral relations, India and New Zealand have signed a comprehensive trade and climate partnership agreement during Prime Minister Christopher Luxon's official visit to New Delhi. The agreement, hailed as a 'new era of cooperation' by both nations, focuses on enhancing trade, technology exchange, and joint efforts to combat climate change.

The deal, signed after months of negotiations, aims to double bilateral trade between the two countries within the next five years. Key sectors include agriculture, renewable energy, information technology, and pharmaceuticals. India, one of the world's fastest-growing economies, will gain greater access to New Zealand's dairy and meat markets, while New Zealand will benefit from India's expertise in IT services and affordable pharmaceutical exports.

A significant highlight of the agreement is the commitment to joint climate action. Both nations have pledged to collaborate on renewable energy projects, including solar and wind power, and to share technological innovations to reduce carbon emissions. Prime Minister Narendra Modi emphasized the importance of the partnership, stating, 'India and New Zealand share a common vision for a sustainable future. This agreement is not just about economic growth but also about protecting our planet for future generations.'

The leaders also announced the establishment of a joint task force to address challenges in the Indo-Pacific region, focusing on maritime security and disaster management. This move is seen as a strategic effort to counterbalance growing geopolitical tensions in the area.

Cultural ties were also a key focus of the visit. New Zealand announced the launch of a new scholarship program for Indian students, aiming to attract more talent to its universities. Additionally, the two countries will host a year-long cultural exchange program in 2024, celebrating their shared heritage and fostering people-to-people connections.

The agreement has been widely praised by business leaders and environmental advocates alike. 'This partnership is a win-win for both nations,' said Ritu Sharma, CEO of the Confederation of Indian Industry. 'It opens up new opportunities for trade while addressing the urgent need for climate action.'

As Prime Minister Luxon concluded his visit, he expressed optimism about the future of India-New Zealand relations. 'Our nations may be geographically distant, but our shared values and aspirations bring us closer than ever. This is just the beginning of a stronger, more collaborative relationship.'

The historic agreement marks a significant step forward in India-New Zealand relations, setting the stage for deeper economic, environmental, and cultural cooperation in the years to come.

Reporting by Ananya Desai in New Delhi

India-New Zealand Sign Historic Trade, Climate Pact

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