New Delhi, May 3 (KNN) India and New Zealand are set to establish working groups in several key sectors to deepen economic cooperation, according to an official statement released on Thursday.

The two countries agreed to form the joint working groups during a series of bilateral meetings in New Zealand this week.

The groups will focus on areas such as agriculture, food processing, storage and transportation, forestry, and pharmaceuticals.

In the pharmaceuticals and medical devices realm, India and New Zealand are looking to collaborate on measures like fast-tracking regulatory processes and mutually recognising inspection reports to facilitate trade.

"Greater sourcing of medicines from India and cooperation in the medical device sector was also discussed," the Indian Commerce Department statement noted.

The two sides held discussions on enhancing partnership across various fronts during the 11th India-New Zealand Joint Trade Committee meeting. This included potential cooperation in horticulture, such as improving quality and productivity in the kiwi fruit trade.

India and New Zealand will review progress made by the working groups at regular intervals going forward. They also aimed to resolve outstanding trade issues like market access barriers through continued dialogue.

The meetings involved Indian Commerce Secretary Sunil Barthwal and New Zealand Minister for Trade Todd McClay among other officials from both nations.

(KNN Bureau)