A free trade agreement with India would offer “big opportunities” for Rotorua forestry, tourism, and agricultural businesses, Trade and Investment Minister Todd McClay says.
His comments come after Indian Minister of Commerce and Industry Piyush Goyal was in Rotorua on Thursday during his first official New Zealand visit.
McClay, Rotorua Mayor Tania Tapsell, Tourism Minister Louise Upston and a large business delegation joined Goyal.
They were welcomed to Te Puia with a pōhiri.
McClay told media this week he and Goyal were having their “fifth formal round of negotiations” about free trade deals.
“And it’s fair to say we are making very fast and very good progress.”
Both ministers were committed to “delivering a high-quality agreement that’s balanced and good for both India and New Zealand”.
The Indian Government also said this week it anticipated an “early conclusion” of the bilateral free trade agreement.
In a statement to the Rotorua Daily Post, McClay said there was “massive potential” in what would be a “high-quality comprehensive free trade agreement”.
“There will be big opportunities in wood and forestry products, tourism and other agricultural exports.”
McClay said India was one of the world’s largest and fastest-growing economies, with a population of more than 1.4 billion.
“A trade agreement will position Rotorua businesses well to grow their exports and partnerships in this market.”
Asked how local businesses could prepare for the opportunities a free trade agreement could bring, McClay said to “continue to offer an exceptional service and build upon our reputation of being world best”.
He said the Rotorua Business Chamber could offer help to exporters, and the Ministry of Foreign Affairs and Trade exporter services page and NZ Trade and Enterprise could provide information and assistance.
“Anyone wanting to know more can contact my Rotorua office, and I’m happy to meet and talk.”
Te Puia New Zealand Māori Arts and Crafts Institute sales and marketing general manager Sean Marsh said it was a privilege to host Goyal, McClay, Upston and Air New Zealand chief executive Nikhil Ravishankar, along with 42 Indian business delegates.
He said tauira (students) from the New Zealand Māori Arts and Crafts Institute performed a haka pōhiri for the delegation in front of Pōhutu Geyser in Whakarewarewa Geothermal Valley, before enjoying a lunch overlooking the view, then attending a business roundtable Q&A session in Potaka Kai Restaurant.
“Culture transcends boundaries, so when we welcome manuhiri [visitors] in this way, there are important moments of connection. We shared conversations about Māori culture, the arts and crafts of India, and Māori artistry – including our shared traditions of weaving.
“As tourism is New Zealand’s second-largest export earner, we discussed future opportunities on the horizon and how Rotorua is well positioned for what’s ahead.”
Rotorua Business Chamber chief executive Melanie Short said a free-trade agreement with India could “only be positive”.
“We know that Minister McClay’s been working really hard on this opportunity, so we appreciate that.
“Within our business community, there will be businesses that are already trading with India, so this can only add more opportunities and an easier pathway.”
India had a “massive population” and was “a huge consumer”.
“And of course they love everything New Zealand, which is great.”
She said the chamber was ready to support businesses that wanted to explore the opportunity.
Megan Wilson is a health and general news reporter for the Bay of Plenty Times and the Rotorua Daily Post. She has been a journalist since 2021.