India & New Zealand Collaborate To Enhance UPI Facilitation

India and New Zealand Collaborate to Enhance UPI Facilitation & Resolve Trade Challenges

India	New Zealand
President: Droupadi Murmu	Prime minister: Chris Hipkins
Capital: New Delhi	Capital: Wellington
Prime minister: Narendra Modi	Dialing code: +64
Official languages: Hindi, English	Official languages: Māori, English, New Zealand Sign Language
Government: Parliamentary system, Constitutional republic, Federal republic, Parliamentary republic	Continent: Oceania

India and New Zealand held discussions on Thursday (June 8) to enhance cooperation in various areas. They aimed to improve the facilitation of the UPI system, resolve trade issues promptly, address work visa matters, and strengthen banking relations.

Considering the current volume of bilateral trade, both nations acknowledged the significant potential for expanding economic relations in areas of mutual interest. They recognized the need for synergy to achieve this goal.

These matters were deliberated upon during a joint meeting that involved representatives from India, New Zealand, and industry associations from both countries. The objective was to advance the goals set by the Joint Trade Committee (JTC) established under the Bilateral Trade Agreement of 1986.

The meeting was co-chaired by Rajesh Agarwal, the Additional Secretary of the Department of Commerce, and David Pine, the High Commissioner of New Zealand in India. They led the discussions on various cooperation initiatives, such as facilitating the UPI system, carbon credit collaboration, a proposal for Kiwi fruits, establishing a trans-shipment hub, timely resolution of trade issues, technology cooperation, work visa-related matters, and enhancing banking relations.

The additional secretary “appreciated the positivity in discussion leading to tentative identification of various areas of cooperation including the facilitation of UPI system, carbon credit, package proposal on Kiwi fruits, trans-shipment hub, prioritization of bilateral trade issues for their timely resolution, collaboration on technology issues, cooperation in services such as work visa related issues, improving the banking relations further,” the commerce ministry said.

The New Zealand High Commissioner, David Pine, explored several areas of collaboration, including promoting the Unified Payment Interface (UPI) system, cooperating on carbon credits, and working together on specific issues. One such issue was the comprehensive proposal put forth by Zespri. He also emphasized the importance of enhancing air connectivity links between the two countries.

In conclusion, the joint meeting between India and New Zealand emphasized increased cooperation in the UPI system, trade issue resolution, work visas, and banking relations. Both countries recognized the potential for enhanced economic ties and expressed a commitment to pursuing mutual interests. The positive outcomes of the meeting paved the way for stronger collaboration, economic growth, and improved connectivity between India and New Zealand.