|
|
 |
 |
 |
| Wednesday, 10 November 2004 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Lanka should exploit underutilised export potential to Latvia - Hony Consul by Shirajiv Sirimane Sri Lanka should exploit the underutilised export potential to Latvia said Hony Consul of Latvia Republic Thomas F. Daetwyler. Daetwyler told the Daily News at the Mount Lavinia Hotel last Monday that exports to Latvia is on the increase and this can be easily doubled and the trade balance turned in Sri Lanka's favour. Up to September 2004 imports from Latvia reached Rs. 6,390,157 and exports Rs.99, 478,956. Last year imports to Latvia were US $ 1,300,357 and exports from Latvia were US$ 159,105. Latvia is ranked as 106th in Sri Lanka's export goods. In 2000 exports to Latvia were Rs. 72,266,413 while imports from Latvia were Rs. 2,229,200. The main exports from Sri Lanka are tea and spice, rubber and plastic, fruits and nuts, textiles and garments. Electrical machinery was the main exports. He said that Sri Lanka should market more textiles and garments as there is a big demand for it. Sri Lanka should launch an aggressive campaign in the tourism sector. "There are over 250,000 travellers from Latvia and only around 200,000 visit Sri Lanka. Latvia is a cold country and many people like to visit tropical countries such as Sri Lanka during winter. Sri Lanka has not tapped this market," he said. He said that if there is a direct airline at least for the winter season Sri Lanka could expect a bigger market. He said Latvia manufactures top quality timber and furniture and Sri Lankan importers should concentrate on this area. Latvia with a population of 2.4 million is now a democratic country and has been accepted as a European Union member. "This would be another advantage for Sri Lanka's doing business with Latvia," he said. Latvian principal export destinations are Germany, UK and Sweden and their main industries are information and technologies, wood processing, electronic and mechanical engineering and chemical and pharmaceutical industries. "We provide incentives in special economic zones and this too would be an eye opener for Sri Lankan entrepreneurs. Chinese and Japanese companies are already exploiting the cheap labour to enter the European markets," he said. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
