EMA and NZITA sign special relationship agreement
The EMA and the New Zealand India Trade Alliance (NZITA) have celebrated signing a special relationship agreement that will see them work together more closely and connect on trade, commerce and industry.
EMA chief executive Brett O’Riley says the agreement enables the organisations to take a more collaborative approach on mutual interests.
"The Indian business community in New Zealand is a very strong one, and we see how rapidly it is growing and contributing to our economy, especially in Auckland," he says.
"We look forward to working together with NZITA, particularly in relation to innovation, entrepreneurship and start-ups, and providing practical help to their members on doing business in New Zealand."
As with NZITA, the EMA would like to see the Regional Comprehensive Economic Partnership (RCEP) progress towards a Free Trade Agreement that would benefit two-way trade and investment.
chairman Giri Gupta says the potential opportunities in
India are huge.
"We are both countries that are ambitious to grow our economies and enjoy the benefits that can come from two-way trade. India’s economic growth has been booming. It’s currently the world’s sixth largest economy, and Prime Minister Modi has expressed a hope that it will be within the top three in the next 15 years.
"It’s a growing market of 1.3 billion people, and has an expanding middle class with a rising demand for quality goods and services that New Zealand can offer. The absence of a free trade agreement, however, is not a barrier to companies wanting to do business in India, this is where the special relationship agreement between the NZITA and the EMA will help open doors and create bi-lateral opportunities.
"Ultimately trade liberalisation between India and New Zealand are in the interests of both countries and I am confident that will happen in the near future," says Mr Gupta.