New Zealand and Sri Lanka in Free Trade Agreement, Soon.

New Zealand and Sri Lanka in Free Trade Agreement, Soon.

New Zealand and Sri Lanka will open diplomatic posts in each other's nations and are considering a free trade agreement, the Pacific country's trade minister said on Friday (20/01).

New Zealand trade minister Todd McClay and Sri Lankan Prime Minister Ranil Wickremesinghe instructed officials to consider a framework to boost economic ties, which could result in a free trade deal,

image: Jakarta Globe
image: Jakarta Globe

McClay said in a statement after the two met this week at the World Economic Forum in Davos.

"Sri Lanka and New Zealand are complementary economies. There is potential for greater trade both ways," McClay said, and added that any deal could include "other like-minded nations."

New Zealand, a small island nation heavily dependent on international trade, is closely watching developments as growing US protectionism threatens the Trans-Pacific Partnership signed by 12 nations last year, which incoming President Donald Trump has pledged to abandon.

Wellington is focusing on getting a number of new trade deals and existing pact upgrades off the ground, including one with the European Union.

McClay has also said it would be "interesting" to see whether momentum builds around the Regional Comprehensive Economic Partnership, an Asian trade pact that includes China and India, if the United States pulls out of the TPP.

Trade with Sri Lanka is currently modest, at NZ$307 million ($220 million) in the year to October 2016. Sri Lanka is a major buyer of New Zealand's main goods export, dairy products, with exports last year worth NZ$240 million.

Source : Jakarta Globe

Indah Gilang Pusparani

Indah is a researcher at Badan Perencanaan Pembangunan Penelitian dan Pengembangan Daerah Kota Cirebon (Regional Development Planning and Research Agency of Cirebon Municipality). She covers More international relations, tourism, and startups in Southeast Asia region and beyond. Indah graduated from MSc Development Administration and Planning from University College London, United Kingdom in 2015. She finished bachelor degree from International Relations from University of Indonesia in 2014, with two exchange programs in Political Science at National University of Singapore and New Media in Journalism at Ball State University, USA. She was awarded Diplomacy Award at Harvard World Model United Nations and named as Indonesian Gifted Researcher by Australian National University. She is Researcher at Regional Planning Board in Cirebon, West Java. She previously worked as Editor in Bening Communication, the Commonwealth Parliament Association UK, and diplomacy consulting firm Best Delegate LLC in USA. Less
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