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India and New Zealand have held the first round table joint meeting, where both the sides acknowledged the huge potential in a mutual partnership and the need for bringing in synergy for enhanced economic relations in areas of mutual interest.

They arrived at a common understanding that there is a need to work beyond any free trade agreement and explore other areas where both can complement each other.

The deliberations took place on Thursday in the national capital with the

industry and industry associations.

It was co-chaired by the additional secretary in the commerce ministry, Rajesh Agarwal and high commissioner of New Zealand in India, David Pine.

Looking at the present quantum of bilateral trade between the two countries, both sides acknowledged the huge potential in India and New Zealand partnership and the need for bringing in synergy for enhanced economic relations in areas of mutual interest, official sources said.

It was a common understanding that there is a need to work beyond any free trade agreement and explore other areas where both can complement each other, they added.

The discussions also focussed on taking forward the objectives of the joint trade committee (JTC), formed under the bilateral trade agreement of 1986.