NEW DELHI: India and New Zealand have held their first round table meeting, where both parties recognised the enormous potential in a partnership and the necessity of fostering synergy for improved economic ties in areas of shared interest.

They came to the consensus that it is necessary to look beyond any free trade agreements and investigate additional fields where both may complement one another. The discussions with the industry and industry associations took place on Thursday in the national capital.

Rajesh Agarwal, an assistant secretary in the ministry of commerce, and David Pine, the high commissioner of New Zealand to India, served as its co-chairmen.

Both sides recognised the enormous potential in the partnership between India and New Zealand and the need to create synergy for improved economic cooperation in areas of mutual interest after taking into account the current volume of bilateral commerce between the two nations, official sources said

The need to look beyond any free trade agreements and investigate new sectors where both can complement one another was widely acknowledged, they said.

The joint trade committee's (JTC) goals, established under the bilateral trade agreement of 1986, were a major topic of discussion as well.

The Indian industry representatives discussed the bilateral issues and the enormous potential and abundance of opportunities between the two economies that need to be nurtured through such interactions and actions thereof. They came from the services sectors of IT and ITeS, logistics, and banking as well as the manufacturing sectors of food processing, pharmaceuticals, automobiles, construction, and power. 

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