International
pti-PTI
Deeper cooperation between India and New Zealand, both maritime nations, will inject new strength into the Indo-Pacific, Prime Minister Narendra Modi emphasised on Saturday during talks with his Kiwi counterpart, Christopher Luxon.
Modi travelled to New Zealand from Australia in the third and final leg of his three-nation tour that largely focused on expanding cooperation in the Indo-Pacific against the backdrop of China’s increasing assertiveness in the region.
Indian PM Narendra Modi met NZ counterpart Christopher Luxon, emphasizing deeper maritime cooperation to strengthen the Indo-Pacific. Following the first PM visit in 40 years, recent agreements and the new FTA aim to boost bilateral trade, targeting USD 2.25 billion now and doubling it by 2030, with a USD 20 billion investment pledge.
“As two maritime nations, our close cooperation, lends new strength to the Indo-Pacific, and our ties can infuse fresh energy into achieving our shared goals of peace,” the prime minister said in his televised opening remarks at the meeting.
Following the Modi-Luxon talks, the two sides inked a number of agreements to expand cooperation in multiple sectors. Modi’s visit to New Zealand is the first by an Indian prime minister after a gap of 40 years. The visit comes following the recent signing of the India–New Zealand Free Trade Agreement (FTA).
India’s bilateral trade with New Zealand stands at USD 2.25 billion. With the FTA and almost a tariff-free business environment, there is a strong likelihood of rapid trade growth. Both countries are also aiming to double their trade in goods and services by 2030. The FTA’s provision of USD 20 billion investment in India over the next 15 years is expected to serve as a driving force for a stronger economic partnership. New Zealand is home to over 3 lakh people of Indian origin, and they have been playing an important role in the country’s politics, economy and business.
