Trade volumes to China to reach US$ 1 billion
Sri Lanka-China trade and economic relations has grown by over 45
percent in the first nine months in 2005.
The total volume of bilateral trade was 720 million US dollars.
Chinese Ambassador Sun Guoxiang who was the chief guest at the eighth
annual general meeting of the Sri Lanka China Business Co-operation
Council (SLCBCC) last Saturday at the BMICH said that the trade between
the two countries are increasing rapidly in accordance with the growth
of Chinese economy and Foreign trade. "I can predict that the total
volume of trade would reach one billion US dollars by the end of the
year," he said.
"From January to September 2005, China's GDP achieved 1,370 billion
US dollars, with an average annual growth rate of 9.4 per cent. Now
China became the main driving force for the global trade growth. China
ranked the third largest trading nation, right after the USA and Germany
in the world. "From January to October 2005, the total volume of China's
foreign trade was 1,147 billion US dollars, a 24 per cent increase over
the same period last year.
China's export and import were 614 billion US dollars and 534 billion
US dollars respectively. This year, China will utilise FDI worth 65
billion US dollars and even more," he said.
Participation of Sri Lankans in trade fairs such as the Canton Fair
has also helped to increase trade while the direct air links between
Colombo and Beijing too would enable more businessmen from the two
countries to meet up said an official of the SLEBCC said.
Sri Lanka also hosted China Jaingsu Expo 2004 at the BMICH, which
also opened an opportunity for Sri Lankan businessmen to meet with
Chinese counterparts. "Sri Lanka is also looking at training
opportunities in China and the transfer of technology," he said.