India, New Zealand sign three pacts including avoidance of double taxation

Oct 27, 2016 08:00 IST

ModiJohn KeyIndia and New Zealand on 26 October 2016 signed three agreements in the areas of double taxation avoidance, food security and sports.

The agreements were inked in New Delhi in presence of New Zealand Prime Minister John Key and Prime Minister Narendra Modi. John Key was on a three-day (25 October to 27 October 2016) visit to India.

List of agreements inked were

• Arrangement regarding Food Safety Cooperation: It was inked between the Food Safety and Standards Authority of India and the Ministry for Primary Industries of New Zealand.

• MoU for cooperation in the field of Youth Affairs and Sports: It was inked between Union Ministry of Youth Affairs and Sports and Sport New Zealand of the Government of New Zealand.

• Third Protocol to the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income: It was inked between the Union Government and the Government of New Zealand.

Apart from this, the two nations also agreed to establish a Bilateral Ministerial Dialogue between two Foreign Ministries. They also agreed for establishment of Annual Foreign Ministry Consultations at Senior Officials Level and cooperation and Dialogue on Cyber Issues.

Besides, the two nations also held delegation level talks. Subjects discussed during the delegation level talks were

• Ways to further boost trade and investments between the two countries.

• The two sides agreed to continue to work closely towards an early conclusion of a balanced and mutually beneficial Comprehensive Economic Cooperation Agreement (CECA).

• The two sides discussed and also agreed to strengthen the security and intelligence cooperation against terrorism and radicalization.

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