26 March 2008 Media Statement

Minister to open NZT&E Mumbai office

Forestry Minister Jim Anderton today opened a new NZ Trade and Enterprise office in the world's most populous city, Mumbai.

Jim Anderton said the new office for NZTE in Mumbai reflects the city's importance as a hub for Western India. "It acknowledges increased focus on opportunities in the region, and growing interest in this vast market from New Zealand companies."

The new India Beachhead Board will be supported from Mumbai. The new office will also be the primary support for Investment New Zealand programmes in India.

New Zealand Trade and Enterprise already has an office in New Delhi, and the expansion highlights the growing importance of the India/New Zealand trade relationship.

Jim Anderton is in India leading a trade mission for the wood and building industry. The New Zealand wood industry currently generates $3.1 billion in exports (or 3.15% of GDP). India is New Zealand's fifth-largest export market for wood products, worth $65 million in 2007. While only 3% of New Zealand's total wood products are exported to India, it is an important and fast-growing market.

"Emphasis on protecting its native forest means India needs to import timber to meet growing demand in construction and other industries. This provides an opportunity for New Zealand companies to develop new markets for value-added timber solutions."

Jim Anderton is meeting ministerial counterparts and construction industry representatives during the seven day visit. He returns to New Zealand on Saturday March 29.

ENDS

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