New Zealand plans to treble merchandise exports to India to NZ$2 billion by 2015 and is working on a strategy that envisages that India will be a core trade, economic and political partner for New Zealand by that year.
As part of the strategy, New Zealand also wants to attract and retain skilled migrants from India who are able to make an effective contribution to the economy.
The New Zealand Government has endorsed the strategy for New Zealand’s engagement with India. This is the first in the series of such strategies being developed, and its implementation is underway, says India New Zealand Business Council (INZBC) in a statement on its website.
New Zealand’s strategy to make India a core partner would be achieved through inter-agency action plans in five major goal areas: merchandise trade, services, investment, skilled migrants, and regional and global issues.
The strategy has been prepared with input from the INZBC.
“The INZBC is very pleased to see this joined-up approach from the New Zealand Government,” says the statement.
The strategy has many elements and revolves around five key goals:
Goal 1: Treble merchandise exports to India to NZ$2 billion by 2015
Goal 2: Grow services trade with India (education, tourism and professional services) by an average of 20% per year
Goal 3: Improve bilateral investment framework and facilitate growth in investment relationship
Goal 4: Attract and retain skilled migrants from India who are able to make an effective contribution to New Zealand’s economic base
Goal 5: Engage more deeply with India on regional and global issues that will impact on New Zealand’s future prosperity and security
The Ministry of Foreign Affairs and Trade has led the development of the strategy and there are three implementation strands of the strategy being led by three agencies:
Merchandise: New Zealand Trade and Enterprise
Services: Ministry of Education
Political engagement: Ministry of Foreign Affairs and Trade
Furthering the progress, the Ministry of Education has recently joined as a member of the INZBC.
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