Chinese business delegation here for joint packaging material
Swift follow up to President's visit to China :
Business visit: A business delegation from Kunming Import and
Export Group (KIEG), China would be in Sri Lanka today to assess the
investment potential in Sri Lanka with the private sector. This
delegation is visiting Sri Lanka subsequent to the visit of President
Mahinda Rajapaksa to China recently and is a follow up on the
negotiations made during his tour.
President, Federation of Chambers of Commerce and Industry (FCCISL)
Nawaz Rajabdeen who led the high-powered business delegation of 60
members said that the visit was highly successful.
He said that the visiting delegation is looking at setting up mini
factories to produce packaging material (particle boards) from paddy
husk. "They are looking at entering the Indian market from Sri Lanka
exploiting the FTA," he said. In addition this company is also looking
at manufacturing photo frames, chip board from paddy husk.
Paddy husk is virtually burnt and this was the reason for them to
enter the Lankan market. "The Chinese investor is keen to do this
venture as a joint venture and would be looking at rice mill owners in
rural areas. "This is a tremendous opportunity for mill owners who are
only engaged in milling rice," he said.
The KGET would also be organising a seminar on 'Trade and Economic
Cooperation between Sri Lanka and Yunam' and is also looking to promote
the Kunming Import and Export Commodities Fair today (21) at Hall A,
BMICH from 10.30 a.m.
The event would be held from June 6 to 10 in Kunming. This event is
being arranged by Yunam Provincial Department of Commerce and CCPIT
Yunam Sub Council. Speaking on the Chinese tour Rajabdeen said that this
is the first time that a cross section of businessmen from all regions
"We had representatives from different districts from small and
medium business houses.
They had a very good exposure and had a very successful meeting with
the Chinese investors arranged by the Chinese Council for Promotion of
International Trade (CCPIT.) "President Mahinda Rajapaksa was very keen
to give more exposure to small and medium type business delegates for
joint venture opportunity."
During the tour the Dongfeng Automobile Co. Ltd, showed keen interest
to set up an assembly plant to manufacture a micro vehicle for export to
the SAARC region. Sri Lanka is to be used as the hub for exports to take
advantage of the FTAD with Pakistan and India.
The Shanghai Machinery and Equipment Corporation will be setting up a
manufacturing unit for tools and other connected equipment. Jiangling
Motors Group had discussions with a leading motor vehicle importer to
set up a joint venture investment in Sri Lanka Beijing. Brilliant Gems
and Jewellery showed interest in importing precious stones for their
Qingdao XinGben Barrow Ltd has a contract to export different types
of carts for the construction industry on CKD and later set up a
In addition a large number of small and medium type manufacturing
industries showed interest in setting up factories to market their
products to the SAARC region.