Trade Minister Todd McClay has confirmed New Zealand and Sri Lanka will progress discussions on new trade and investment opportunities, which could include a Free Trade Agreement between the two countries.
The announcement comes after a meeting between Mr McClay and Sri Lanka’s Prime Minister Ranil Wickremesinghe at the World Economic Forum in Davos, Switzerland.
“Prime Minister Wickremesinghe and I have instructed officials to consider how New Zealand and Sri Lanka can build the right framework to grow our economic relationship through a trade arrangement, including the possibility of working with other like-minded countries,” Mr McClay says.
“Sri Lanka and New Zealand are complementary economies. There is potential for greater trade both ways and I welcome the Prime Minister’s commitment to this.”
“Prime Minister Wickremesinghe has agreed to open a diplomatic post in New Zealand and we are doing the same in Sri Lanka. This is an important step in strengthening trade and economic ties as well as increasing our bilateral engagement.”