FCCISL to promote Sino-Lanka economic ties

Ruwanthi ABEYAKOON

COOPERATION: Business community of Sri Lanka will extend the fullest cooperation to China to strengthen trade and economic ties, President, Federation of Chamber of Commerce and Industry (FCCISL), Nawaz Rajabdeen said at the seminar on Trade and Economic Cooperation between Sri Lanka and Yunnan, China.

“China cannot just market their products in Sri Lanka but can reach the market in the region by strengthening the trade and economic ties with Sri Lanka. Federation will extend the fullest co-operation for this,” he said.

Vice President, Sri Lanka-China Business Council, Ranjan De Silva, said the Council will promote and expand business relations between Sri Lanka and China.

“With China’s phenomenal expansion in industry and commerce, there is remarkable potential for trade and investment initiatives between China and Sri Lanka.

Sri Lanka’s imports from China accounted for eight percent of total imports in 2006 while exports from Sri Lanka to China was 0.37 percent of the total exports,” De Silva said.

He added that the availability of frequent flights and sailings between the two countries boosted the trade and tourism. “China has also been a major source of foreign investments. The value of total investment by China is approximately USD 77 million.

Tourist arrivals from China to Sri Lanka are rapidly increasing. The number of tourist arrivals from China in 2006 was 16,274 compared to 9668 in 2005,” he explained.

“This is an historic occasion. Chinese business community has been supportive. This is an excellent opportunity as it opens the door for Chinese products. There is a need to have Sri Lankan products in China.

The business relation between the two countries should continue,” said Senior Deputy President, National Chamber of Commerce and Sri Lanka-China Business Co-operation Council, C. L. De Alwis speaking of the Kunming Import and Export Commodities Fair.

Deputy Director General, Yunnan Department of Commerce, Li Jiming said some agreements will be signed with major Sri Lankan Chambers.

“Yunnan Province has a huge capacity of processing and a huge supply of electricity. It is the closest province to Sri Lanka.

For the first time we have included tourism products. We will support tourism. There will be conferences and seminars for the participants,” he said.