By KUNA
New Delhi : India Tuesday called for strengthening bilateral economic and investment ties with New Zealand.
Visiting New Zealand Minister for Agriculture, Forestry, Bio-Security and Fisheries Jim Anderton today met Indias Commerce and Industry Minister Kamal Nath, to discuss possible steps to enhance bilateral business ties.
Observing that technical cooperation need to be put on the priority agenda, both India and New Zealand today agreed to provide the enabling environment for achieving further cooperation, an official statement said here after the bilateral meeting.
The collaboration and investment from New Zealand to India has been rising continuously.
During 1991-2007, the Indian Government approved 50 Foreign Direct Investment (FDI) proposals from New Zealand with an equity participation of USD 100.5 million. New Zealand ranks 37th in the list of countries in terms of cumulative FDI approved between 1991-2006.
The top sectors attracting FDI from New Zealand are Services Sector (57.65 percent), Food Processing Industries (28.37 percent), Telecommunications (12.83 percent), Boilers and Steam Generating Plants (0.52 percent), and Electrical Equipments (including computer software electronics) (0.36 percent).