23rd Annual General Meeting 2018

New Zealand government trade and enterprise initiative has recorded almost U$ 50 million in additional business last year bringing Sri Lanka to the top among its regional peers in terms of improved bilateral trade with N

Speaking at the 23rd Annual General Meeting of the Sri Lanka–Australia–new Zealand business council (SLANZBC)

last Thursday he also said that a New Zealand High Commission will be established in Colombo in the latter half of next year bringing in further boost to trading activities between the two countries.

“We had an excellent trade mission this year. We have now received approval for another trade mission for next year and expect high end visits from New Zealand” Silva assured.

“President of the SLANZBC Gerard Victoria speaking at the event said the trade mission provided an opportunity for New Zealand Companies to establish and consolidate partnerships with current and potential Sri Lankan business partners.

During the year 2017, the bilateral trade between Sri Lanka and New Zealand accounted for a total of USD 314.76 M, a sharp rise of 50% compared to 2016.

Exports from Sri Lanka to New Zealand increased by 24% to USD 27.88 M in 2017 while imports from New Zealand rose by 53% to USD 286.88 M compared to 2016.

Speaking on the dairy development initiatives carried out by the New Zealand Government for the benefit of low income farmers in Sri Lanka, Silva said the programme has proved to be successful in the North, Northeast and North-central Provinces.

“We have done some extensive research and have come to understand that this project is effective and productive. Farmers have increased milk production from 4 to 5 litres per cow to 11 to 12 litres.The quality of milk is excellent” Silva noted.

He also revealed New Zealand’s plans to increase the standards of our veterinary doctors in Sri Lanka. “This is not to say that veterinary standards are low, but by tying up with New Zealand’s’ Massey University, a Top university for veterinary education, in a period of two years we will see world class veterinary doctors being produced. Let’s hope we can retain some of them to develop the industry.”

The Minister John Amaratunga earlier this year said that New Zealand could use Sri Lanka as a manufacturing and trading base to access the vast Indian market adding that the country had also signed an FTA with Singapore.

After a meeting between Sri Lanka’s Prime Minister Ranil Wickremesinghe at the World Economic Forum in Davos, Switzerland last year January, New Zealand Trade Minister Todd McClay announced plans to progress discussions on new trade and investment opportunities, which could include a Free Trade Agreement between the two countries. However, progress on discussion on a FTA still remains sluggish between the two countries.

Sri Lanka’s main exports to NZ were Coffee, Tea & Spices, Rubber & Articles thereof, Apparel & Clothing – Knitted or Crocheted, Worn Clothing & Worn Textiles, Rags, and Apparel & Clothing. The main import products from New Zealand were milk, butter, apples, cheese, casein etc.

NZ–SL trade records 50% growth NZ plans to open a high commission here next year

New Zealand government trade and enterprise initiative has recorded almost U$ 50 million in additional business last year bringing Sri Lanka to the top among its regional peers in terms of improved bilateral trade with New Zealand, Consul for New Zealand in Sri Lanka Senaka Silva said.

Speaking at the 23rd Annual General Meeting of the Sri Lanka–Australia–new Zealand business council (SLANZBC) last Thursday he also said that a New Zealand High Commission will be established in Colombo in the latter half of next year bringing in further boost to trading activities between the two countries.

“We had an excellent trade mission this year. We have now received approval for another trade mission for next year and expect high end visits from New Zealand” Silva assured.

President of the SLANZBC Gerard Victoria speaking at the event said the trade mission provided an opportunity for New Zealand Companies to establish and consolidate partnerships with current and potential Sri Lankan business partners.