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| Tuesday, 30 March 2004 |
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CCC signs MoU with largest Chamber of Commerce in Russian Federation The Ceylon Chamber of Commerce (CCC), the premier forum for business in Sri Lanka with 165 years service to the business community, signed a Memorandum of Understanding (MoU) with the Chamber of Commerce and Industry of the Russian Federation last week. Georgy G. Petrov, Vice President of the Chamber of Commerce and Industry of the Russian Federation signed the MoU on behalf of the Chamber of Commerce and Industry of the Russian Federation and Deva Rodrigo, Vice Chairman of the Ceylon Chamber of Commerce and Chairman of the Sri Lanka-Russia Business Council signed the MoU on behalf of the Ceylon Chamber of Commerce. The Ceylon Chamber of Commerce set up the Sri Lanka-Russia Business Council in 2001 to promote trade, tourism and services between Sri Lanka and Russia and in particular to promote exports from Sri Lanka to Russia. The Council also promotes Russian investment in Sri Lanka and the establishment of joint ventures between Russian and Sri Lankan investors. In order to successfully achieve these objectives, the Ceylon Chamber of Commerce and the Sri Lanka-Russia Business Council established links with the Chamber of Commerce and Industry of the Russian Federation in 2001. With the co-operation of the Russian Chamber a Sri Lankan business delegation visited Russia in October 2002. The Sri Lanka-Russia Business Council also organised a Russian business delegation to visit Sri Lanka in November, 2003. The MoU which was signed between the two Chambers intends to further strengthen the links between the two Chambers and the main areas of co-operation under the MoU include: Developing closer and productive contacts between business circles of the two countries; Exchanging of information related to bilateral trade and economic co-operation and supply each other with relevant publications and electronic data; Assisting each other in organisation of or participation in exhibitions, trade fairs, symposia, business conferences and other similar events; assisting each other wherever possible and appropriate in arranging business missions; Working with members to identify common obstacles to trade and investment in both countries and strive to eliminate such obstacles. The Chamber of Commerce and Industry of the Russian Federation has over 155 regional Chambers from every industrial sector, region and municipality attached to it. There are over 20,000 members representing special business interests such as importers, exporters, producers, bankers, lawyers, bakers and other vocations. The Chamber has offices in 15 countries including New Delhi. The President of the CCIRF is the former Russian Prime Minister, E. M. Primakov. Currently, the largest market for Sri Lankan tea is the Russian Federation and the CIS countries. Sri Lanka exports more than 60 Mn Kgs of tea to Russia and CIS countries which accounts for nearly 23% of Sri Lankan tea exports. Therefore maintaining strong trade relationships with Russia is of utmost importance to Sri Lanka's economy. The Ceylon Chamber of Commerce and the Sri Lanka-Russia Business Council strongly believe that the MoU with the CCIRF will lead to closer networking between the business community of the two countries leading to considerable increase in bilateral trade. The Chamber of Commerce and Industry of the Russian Federation sees much potential in exporting machinery, equipment, news print and petroleum products to Sri Lanka and in infrastructure development. They strongly believe that close links with the Ceylon Chamber of Commerce and the Sri Lanka-Russia Business Council would help harness this potential. |
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