MoU to advance Sino-Lanka business relations

Shirajv SIRIMANE

MOU: A Memorandum of Understanding between the Sri Lanka - China Business Cooperation Council (SLCBCC) and the China Council for the Promotion of International Trade (CCPIT), Sichuan Council, was signed recently at the National Chamber of Commerce of Sri Lanka.

"Under the agreement both parties would work jointly to source from China, machinery, material, and advanced technologies, and promote exports of Sri Lankan products, especially Black Tea, gems and wooden handicrafts," said President SLCBCC, Nihal Mallikaaratchi.

This agreement would also establish closer cooperation between the two institutions, and stimulate business ties with each other, especially in finding potential investors as partners for industrial and agricultural projects, and obtain scientific and technical cooperation," he said.

To that purpose they will organize and participate in exhibitions, conferences and trade missions.

The CCPIT Sichuan Council agreed to hold a trade exhibition in Sri Lanka in November 2007, and the SLCBCC was invited to attend the Western China International Economy and Trade Fair, which will be held from 25th to 28th May 2007.

This is an annual trade fair held for the 8th time in 2007, and atended by over 60 countries. The SLCBCC agreed to participate in this trade fair to exhibit exportable products of our corporate members.

The visiting Sichuan Business Delegation led by the Chairman Xiang Yu Ming included 61 members, representing International Commerce Chambers, Machinery Manufacturers Guild and several Sichuan based companies.

The SLCBCC made arrangements for CCPIT members to meet the Governor, Chief Minister and the Provincial Minister of Sports, Youth Affairs, Fisheries, Rural Industries, Rural Development, Housing and Construction of the Western Province.

President SLCBCC, Mallikaaratchi, and Chairman, CCPIT Sichuan Council, Xiang Yu Ming, signed the MOU on behalf of the two institutions in the presence of Secretary Economic and Commercial of the embassy of the People's Republic of China in Sri Lanka, Chen Feng, and members of the two Councils.

It is estimated that China's Gross Domestic Product (GDP) growth will be around 9.25 per cent next year.