Prashanta on FTA on Television and Radio

Our co-founder and Director Prashanta Mukherjee was invited by media, as Acting Chair of INZBC, to comment on New Zealand’s relationship with India. In an interview on Radio New Zealand’s Morning Report (29 June 2011).

Prashanta emphasised the benefits that a free trade agreement will bring to both countries. Rather than costing jobs, Prashanta explained that a trade deal would expand the market for some of New Zealand’s highest value exports. (You can listen to the interview here).

On TVNZ News at 8 Prashanta discussed the benefits for India of a free trade agreement and the advantages of the film co-production agreement signed between Prime Ministers Key and Singh. This interview can be watched here.

We note the current composition of two-way goods trade. This is valued at just over NZ$1.25 billion - up from NZ$950 million two years ago. Exports from New Zealand were worth NZ$917 million, nearly double of two years ago. India is now New Zealand’s 7th largest market. Imports from India were valued at NZ$370 million for the same period. On the New Zealand side, exports are dominated by traditional commodities (coal, wood, dairy, wool). India’s exports are also in long-standing areas of strength (pharmaceuticals, jewelry, textiles).

We believe that the true potential of tis bilateral relationship will be rfully ealized when the two countries actively leverage each others’ strengths for a mutual benefit that goes far beyond shipping more of the same “stuff” to each other.