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The Federation of Indian Chambers of Commerce and Industry (FICCI) is organising a high-powered private sector delegation to participate in the seventh session of the India Sri Lanka Joint Business Council (JBC) on June 7, at the Trans Asia Hotel. It is jointly organised by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) and the Federation of Indian Chambers of Commerce and Industry (FICCI).

A wide range of issues will be taken up at this meeting aimed at promoting bilateral trade including exports, imports, agriculture, industry and joint ventures, investment cooperation at Government level.

At the one-day meeting, economic situations of both countries will be taken up while the status of and scope for strengthening bilateral relations will also be taken up under the Indo-Lanka bilateral trade agreement signed in 1998. Among the sectoral issues that will be taken up at the meeting are tourism, joint cooperation in Small and Medium Scale industries and cooperation in Information Technology Representatives from the Sri Lanka Convention Bureau and the Board of Investment will be invited to make presentations.

The focus of the meeting will be on individual business meeting between Indian and Sri Lankan businessmen which will be held on a one to one basis. Over 100 businessmen are expected to register for one to one business sessions.

The Sri Lanka-India Joint Business Council Agreement was entered into in 1979 by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) from the Sri Lankan side, the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM), the two leading apex Chambers of Commerce on the Indian side.

The fundamental objective of the Indo-Lanka Joint Business Council (JBC) is to enable larger trade flows and wider industrial cooperation between India and Sri Lanka towards achieving this objective, the JBC provides a forum for businessmen from Sri Lanka and India to meet, discuss and explore opportunities in bilateral trade, services, investment and economic cooperation.

The JBC agreement provides regular contacts at least once a year. The meeting are held alternately as followed in Sri Lanka and India.

First meeting - March 1, 1981 in Colombo, Second meeting - March 9, 1992 in New Delhi, Third meeting - March 8 and 9, 1993 in Colombo, Fourth meeting - June 14, 1995 in Madras, Fifth meeting - May 8, 1997 in Colombo and Sixth meeting - November 15 and 16, 1999 in Bangalore.

The FCCISL is now planning to broadbase the local JBC Chapter by opening it for membership and providing more services for members. The members will be provided with the following services, among others.

* Members will be informed of the changes of economic policies, economic indicators, financial highlights and such other information of India.

* They will be informed of the major events in India.

* Trade inquiries received from India for export, import, technology transfer and investment will be circulated among the members.

* JBC members will be invited to participate in meetings held in Sri Lanka and India.

* Members will be provided with individual services such as fixing of appointments, enabling contacts with individual business parties, resolving business disputes by taking up matters with parties involved.

* Recommending and facilitating to obtain visas to India for business purpose etc.

The major recommendations made during the JBC meetings are followed up regularly with the Government officials and such other policy makers.

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