Wellington Seeks Trade Relationship With India

Potential for Wellington to Increase Trade Relationship With India

The Wellington Regional Chamber of Commerce has welcomed the news that negotiations for a bilateral FTA with India are to commence and emphasised the importance including services in the negotiation.

“An FTA with India would be hugely beneficial to New Zealand and has been a very high priority for us for many years. We congratulate Tim Groser and his officials for reaching this milestone,” said Chamber CEO Charles Finny.

“Statistics released last week show New Zealand exports to India increased 16% in the 2009 calendar year against a backdrop of declining trade overall. A FTA would be a valuable platform to build that trade.

“New Zealand’s exports to India are across a narrow range of goods. There is a lot of scope to diversify that range and it will be important to do so.

“In particular, there is a lot of potential to increase cross border investment as well as services exports and it is essential that negotiations cover these areas.

“With its service sector orientation, the Wellington economy in particular has a lot to gain from closer economic relations with India - particularly in the IT, film and education sectors. These are areas which both India and Wellington excel in.

“The Chamber is keen to see exports increase their contribution to the Wellington regional economy and is part of a collaboration with EMA Central and Export New Zealand to help achieve this,” Mr Finny concluded.

ENDS

© Scoop Media