Sri Lanka and New Zealand working on strengthening economic ties - Opportunity Sri Lanka
Sri Lanka and New Zealand working on strengthening economic ties

Sri Lanka and New Zealand working on strengthening economic ties

Sri Lanka’s State Minister of Regional Co-operation Tharaka Balasuriya has reportedly highlighted the potential to build upon the existing cordial ties between Sri Lanka and New Zealand while welcoming the new High Commissioner of New Zealand to Sri Lanka Michael Appleton.
Appleton, the first resident High Commissioner of New Zealand to Sri Lanka, has reportedly paid a courtesy call on State Minister Balasuriya recently.
He has discussed means of further diversifying and expanding trade relations with New Zealand and has also emphasised the opportunities that exist in Sri Lanka for potential New Zealand investors in diverse areas, especially in the economic zones and the Colombo Port City.
State Minister Balasuriya and High Commissioner Appleton have also discussed means of collaboration between the two countries on the creative economy, an area in which the State Ministry has launched a programme recently.
According to reports, they have also focused on further co-operation in the areas of sports, education, and renewable energy.
Associated with State Minister Balasuriya were senior officials of the State Ministry of Regional Co-operation and the East Asia Division of the Foreign Ministry.

OSL take:

Sri Lanka and New Zealand enjoy strong bilateral and trade ties that are now being further strengthened. Sri Lanka poses an attractive business destination given its strategic geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country. The country has also shown great resilience to challenges posed by the global Covid 19 pandemic and is showing signs of returning to normalcy. Some of the key economic sectors in the country have shown a growth momentum despite pandemic challenges. Businesses/ investors in New Zealand could therefore explore business/investment opportunities in Sri Lanka and vice versa. Also, Kiwi businesses/investors could look at setting up base in Sri Lanka or form partnerships/joint ventures with local businesses to engage with other countries in the region.

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Article Code : VBS/AT/04082021/Z_4

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