On the occasion of the appointment of Jan Henderson, New Zealand's new high commissioner to India, Kiwi foreign minister Murray McCully said that India is one of their most important partners and a trade agreement which is presently being negotiated is likely to strengthen the relationship between the two countries further.

This development comes in the wake of a recent statement by the Ministry of Foreign Affairs and Trade, New Zealand, as per which the next round of negotiations between India and New Zealand for a Free Trade Agreement (FTA) is likely to be held in August this year. The formulation of an FTA is likely to open up newer and better business opportunities for Indian SMEs in New Zealand.

Earlier this year, the former New Zealand high commissioner to India Rupert Holborow had predicted that bilateral trade could multiply four times within a decade if India and New Zealand sign an FTA. Incidentally, a major chunk of Indian exports to New Zealand comes from the SME stable such as pharmaceuticals, gems and jewellery including diamonds, textiles, machinery, woven clothing and electrical machinery. With New Zealand keen on enhancing trade ties with India, it is likely to encourage Indian SMEs intending to tap the Kiwi markets to explore business possibilities in the latter country.

Sreemita Bhattacharya