India and New Zealand Strengthen Cooperation to Promote Unified Payment Interface System
India and New Zealand have decided to enhance cooperation in various areas, including the facility of Unified Payments Interface (UPI) system, work visa, timely resolution of trade issues, and improvement in banking relations. During a joint meeting between both countries with industry and industry associations, they recognized the need to enhance and synergize economic ties in areas of great potential and mutual interest. The meeting was co-chaired by Rajesh Agarwal, Additional Secretary, Department of Commerce, and David Panay, New Zealand High Commissioner to India.
Key Highlights:
– India and New Zealand have decided to enhance cooperation in various areas, including the facility of Unified Payments Interface (UPI) system, work visa, timely resolution of trade issues, and improvement in banking relations.
– The discussions focused on furthering the objectives of the Joint Trade Committee (JTC) set up under the bilateral trade agreement in 1986.
– Additional Secretary Rajesh Agarwal positively supported the discussions leading to tentative identification on various areas including facilitation of UPI system, Kiwi fruit packet proposal transshipment, hub carbon credits, priority cooperation of bilateral trade issues for their timely resolution.
– Some of the areas explored by the High Commissioner of New Zealand include promoting the UPI system, operationalizing carbon credits, and working together on some specific issues such as the comprehensive proposal made by Zespri and for bilateral benefits.
– Both sides recognized the need to enhance and synergize economic ties in areas of great potential and mutual interest.
According to media reports, the High Commissioner of New Zealand has also emphasized on increasing the air connectivity between the countries. The Ministry of Commerce has said that they will work together on technical issues, service-related issues such as work visa-related issues, and further improvement in banking relations.
English Summary:
India and New Zealand have decided to enhance cooperation in various areas, including the UPI system, work visa, timely resolution of trade issues, and banking relations. The discussions focused on furthering the objectives of the Joint Trade Committee (JTC). The High Commissioner of New Zealand has emphasized on increasing air connectivity between the countries. The Ministry of Commerce has said that they will work together on technical issues, service-related issues such as work visa-related issues, and further improvement in banking relations.
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