New Zealand, Sri Lanka to discuss FTA possibilities

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New Zealand and Sri Lanka will begin considering a free trade agreement among discussions on new trade and investment opportunities, New Zealand Trade Minister Todd McClay said Friday.

The announcement came after a meeting between McClay and Sri Lankan 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," McClay said in a statement from his office.

"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."

Wickremesinghe and McClay had also agreed to open diplomatic posts in each other's countries in an important step in strengthening trade and economic ties as well as increasing bilateral engagement.(Xinhua)

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