January 24, 2017

Fonterra welcomes fresh trade, investment discussions between New Zealand and Sri Lanka

Fonterra has welcomed the announcement that New Zealand and Sri Lanka will progress discussions on new trade and investment opportunities, including the possibility of a free trade agreement (FTA) down the track.

The announcement came after a meeting between New Zealand Trade Minister Todd McClay and Sri Lanka's Prime Minister Ranil Wickremesinghe at the World Economic Forum in Davos, Switzerland.

Managing director of Fonterra Brands Sri Lanka Sunil Sethi says: "Sri Lanka is one of Fonterra's most important markets. Anchor was introduced to the market over 40 years ago and we have been collecting milk from Sri Lankan dairy farmers since 1997."

"We are also working hard to develop the local Sri Lankan dairy industry," Sethi adds. "We have a major investment programme underway to help use our generations of dairy farming expertise to grow the local dairy industry that will uplift local farming communities and support the growth of our fresh milk products, which is a growing category. We see strong potential for further growth in trade from New Zealand, in local production and investment opportunities."

According to Sethi, Fonterra is pleased with the "continued positive relationship" the company and New Zealand have in Sri Lanka and sees an FTA as a logical extension of the cooperation.

- Fonterra