FEB 1 2015 Edition

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Venkat Raman
India’s High Commissioner
to New Zealand Ravi Thapar
says that a Free Trade
Agreement (FTA) between the
two countries is being negotiated,
although our sources believe that
such a pact would take more time to
materialise.
Despite several rounds of talks
held between the officials of the two
governments both in India and New
Zealand over the past six years, FTA
with New Zealand is not on Delhi’s
priority list. India is keen to have
a more constructive engagement
with New Zealand on technology
but Prime Minister John Key and
Trade Minister Tim Groser are more
interested in tariff free movements
of goods.
Pursuing objectives
Speaking at the 66th Republic
Day Celebrations held at Bharat
Bhavan in Wellington on January
26, 2015, Mr Thapar said, “A FTA
and a more elaborate Air Services
Agreement for facilitating better air
linkages and connectivity are being
negotiated. What is now important
The KiwiSaver has
significantly improved the
saving habit of ordinary
New Zealanders and
introduction of a special scheme for
Muslims under the Sharia Law will
add more value and accrue larger
savings, former Governor General
Sir Anand Satyanand said.
Launching the ‘Amanah
KiwiSaver Plan’ at Sudima
Auckland Airport on January
31, he said that the new Scheme
provided an alternative to Muslims,
protecting their individuality.
As reported in our January 15,
2015 issue, ‘Amanah Ethical,’ a
New Zealand-owned company is
promoting the ‘Amanah KiwiSaver,’
the first and only Sharia compliant
scheme of its type in this country.
Sir Anand said that the challenge
now is for the scheme to “develop a
www.indiannewslink.co.nz ■ Phone: 09 533 6377 ■ info@indiannewslink.co.nz ■ Issue No 316 ■ FEBRUARY 1 2015
Free Trade Agreement still on backburner
is to give practical shape to some
of the objectives enshrined in these
bilateral agreements.”
He also believes that India would
like to have New Zealand as a
‘Technology Partner’ and not as a
mere ‘Trade Partner.’
Two-way trade between the
credibility that will achieve the aims
of the original stakeholders.”
While an Islamic Advisory Board
(details on Page 11) will ensure that
‘Amanah’ remains on the Sharia
track, the Federation of Islamic
Associations of New Zealand
(FIANZ) has become a partner in the
business, endorsing and marketing it
to the Muslim community.
Three Partners
Sir Anand said that the
KiwiSaver Scheme provides for a
tripartite partnership involving the
government (Inland Revenue), the
financial and banking sector and the
community.
“The objective is to create a long
term savings habit for people right
from youth, to lock in savings for
retirement, and to give people some
choice as how savings could be
managed. It was out of the need to
give savers a choice that the idea for
two countries currently stands at
$1.1 billion- this figure pales in
comparison with that of China,
which at $20 billion is New
Zealand’s largest trading partner.
The FTA signed by the two countries
in 2008 is expected to take bilateral
trade to $30 billion in the next five
years.
Positive developments
Outlining a number of
developments including exchange
visits at ministerial and official
levels that have occurred in recent
years, he described the prospects for
strengthening bilateral cooperation
as ‘positive and promising.’
However, New Zealand is
not merely a global supplier of
agricultural goods and primary
commodities, Mr Thapar said.
“Rather, many companies
here have developed smart and
innovative technologies, which
cannot be commercialised easily
due to New Zealand’s modestsized
market. Given India’s rich
reservoir of scientists and engineers,
professionals and consultants,
substantial market and huge middle
Amanah was conceived,” he said.
“The KiwiSaver Act aims
to increase the well-being and
financial independence of people
(particularly in retirement) and
for schemes to facilitate savings,
principally through the workplace,”
Sir Anand said.
Specific Needs
He said that the KiwiSaver
Scheme has matured, and hence
there is now an opportunity to cater
to more specific needs.
“Many people, particularly the
young, are keen to ensure that their
money lodged is lodged in ‘ethical
investments,’ not to do with arms
manufacture or liquor industries.
In an allied step, the prospect of
investment in accordance with
the Sharia law has been thought
desirable,” he said.
New Journey
Ethnic Communities Minister
class and ever-burgeoning economic
requirements and expanding
investments in infrastructural
projects, New Zealand businesses
can work closely with their Indian
counterparts for commercializing
such technologies for sale not only
in India but also in other markets,”
he said.
The Guests
Ethnic Communities Minister
Peseta Sam Lotu-liga, Opposition
Leader Andrew Little, National
Party MPs Kanwaljit Singh Bakshi,
New KiwiSaver offers Sharia alternative
Venkat Raman
Indian High Commissioner Ravi Thapar lights
the traditional lamp watched by his wife Sharmila
and Ethnic Communities Minister Peseta
Sam Lotu-liga at the Indian Republic Day
Celebrations in Wellington on January 26
Peseta Sam Lotu-liga described
retirement as ‘the beginning of
another journey’ and said that plans
like ‘Amanah KiwiSaver’ will
extend the benefit of saving to a
larger section of communities.
Among those present at the launch
ceremony were New Zealand First
Leader Winston Peters, Amanah
KiwiSaver Chairman Gregory
FREE
Ravi and Sharmila Thapar with (from left) Ratna Venkat, Jeffery Nathan and Joseph
Alexander at the Indian Republic Day Celebrations in Wellington on January 26
Dr Parmjeet Parmar, Paul Foster
Bell and Brett Hudson, Wellington
Mayor Celia Wade Brown, diplomats
and people of Indian origin were
among those who attended the
Celebrations.
Dance performances by Ratna
Venkat with live music by Jeffery
Nathan and Joseph Alexander (from
Auckland) were a highlight of the
event.
Another Report with pictures
appears on Page 5.
Dignitaries at the ‘Amanah KiwiSaver’ launch (from left) Brian Henry, Sheikh
Mohammed Amir, Winston Peters, Sir Anand Satyanand, Gregory Fortuin,
Dr Anwar Ghani and Peseta Sam Lotu-liga
Fortuin, Amanah Managing Director
Brian Henry, Islamic Advisory
Board Member Sheikh Mohammad
Amir, Non-Executive Director Dr
Farouk Balli and FIANZ President
Dr Anwar Ghani.
A detailed report with more
pictures will appear in our next
issue.
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