New Zealand assures support for Sri Lanka’s economic and financial growth

Wednesday, 5 October 2016 00:03 - - {{hitsCtrl.values.hits}}

Sri Lankan Prime Minister Ranil Wickremesinghe and New Zealand Minister of Finance Simon William

Wellington: New Zealand has assured to extend full support to Sri Lanka to further its economic and financial growth to make the island nation an economic hub in the region.

New Zealand Minister of Finance Simon William English assured support to provide Sri Lanka with New Zealand’s expertise and knowledge to enable the island nation to carry out the financial reforms necessary to be on-par with the new world market, speaking when Sri Lankan Prime Minister Ranil Wickremesinghe and his team met with the Minister at the InterContinental Hotel in Wellington this week.

Expressing willingness to support Sri Lanka, Minister English commended the work done by Sri Lanka to create a wave of investment opportunities, and expressed his support to assist Sri Lanka in furthering its economic and financial growth.

The two sides discussed and analysed the current economic and financial challenges Sri Lanka is facing, especially the island’s debt burden.

The Premier presented the importance of addressing the issues of reducing the immense debt burden of the Nation that was accumulated over the last ten years, while ensuring that this burden did not fall upon the citizens of Sri Lanka. Special attention was paid to the importance of minimising shortfalls of the tax revenue collection system while increasing the State revenue.

Economic Advisor to the Minister of Finance Simon Duncan, Team leader, International, New Zealand Treasury Chris Nees, Chief of Protocol, Ministry of Foreign Affairs and Trade Joanna Kempers, Foreign Policy Officer, Ministry of Foreign Affairs and Trade Emma King were also present with the Minister of Finance at the meeting.

Prime Minister Ranil Wickremesinghe also met with the Governor-General of New Zealand Dame Patsy Reddy at the Government House in Wellington.

The New Zealand Governor wishing Sri Lanka luck with its future journey assured that she would provide not only her knowledge and support, but also her personal experience towards assisting Sri Lanka in modernising its film industry, as well as setting up a permanent National Film Commission to oversee the development of the industry.

The relationship amongst Commonwealth Nations, International Economic and Social Trends, and a new approach to the development of Sri Lanka were particularly focused on during the meeting with the Governor.

The meeting was significant as Prime Minister Wickremesinghe was the first foreign leader to hold discussions with Dame Reddy after she assumed office as New Zealand’s 21st Governor-General on 28 September.