National
India, New Zealand plan IT MoU
By Our Special Correspondent
NEW DELHI, DEC. 6. India and New Zealand will shortly conclude a memorandum of understanding on cooperation in information technology.
This was disclosed at a meeting of the tenth India-New Zealand Joint Business Council organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) here today.
The two countries also plan to rely largely on the private sector to realise the potential for increasing bilateral trade. They will focus on select areas for greater cooperation like information technology software and hardware where the two countries can synergise to upgrade their respective strengths.
Addressing the JBC, the Minister of State for Commerce, Mr. Rajiv Pratap Rudy said the Council has identified areas of cooperation that would benefit both countries.
He urged the New Zealand business community to review its interests in this country and tap investment opportunities. He said India's foreign direct investment policy had undergone radical reforms and FDI is now allowed in nearly all sectors of the economy including defence industries.
The New Zealand Minister for IT, Communications and Commerce, Mr. Paul Swain in his keynote address called for closer cooperation in the IT sector. In addition, he urged Indian industry to take advantage of his country's free trade agreements with Australia and Singapore.
Earlier, Mr. Swain also met the Commerce Minister, Mr. Murasoli Maran to discuss the outcome of the World Trade Organisation's Doha ministerial conference. An official release said the leaders exchanged views regarding the Singapore issues. Mr. Maran raised the subject of suspended aid to apple producers in Himachal Pradesh. He requested his counterpart to restore the ENZA programme which has been implemented since 1997 for development of the apple industry in Himachal Pradesh.
Mr. Maran said bilateral trade between the two countries has risen by 53 per cent over the last decade. Both sides decided to make all-out efforts to diversify the tradeable baskets with a view to promote bilateral trade through the JBCs.
The principal commodities that India exports to New Zealand are cotton yarn, fabrics as well as drugs and pharmaceuticals. Imports consist of raw wool, wood and wood products, coal and coke briquettes.
Send this article to Friends by
E-Mail
National
|
