Indo-Lanka trade conference begins in Chennai today
Minister for International Trade G. L. Peiris will inaugurate a
two-day conference on “India-Sri Lanka: Trade and Investments” in
Chennai today.
The conference, organised by Observer Research Foundation in
association with Confederation of Indian Industries and the Sri Lankan
deputy high commission, will focus on industrial and investment climate
and trade related issues.
It will also have one-to-one sessions among traders for developing
bilateral contacts and relations of shared, long-term interests.
Officials and industry trade representatives from India and Sri Lanka
will have a free and frank exchange of views on issues and concerns of
mutual concern to both the countries and all stakeholders.
After the Free Trade Agreement (FTA) was signed between the two
countries in 1998, the bilateral trade has more than doubled in just
three years. From $557 million in 1999, it has now grown to $2.7 billion
in 2007.
Now many Indian companies are investing heavily in Sri Lanka. The
Indian Oil Corp is part owner of Lanka IOC, which took over the running
of 100 petrol pumps of the Ceylon Petrol Corp in 2003 and commenced
retailing products.
Tata trucks, Bajaj auto-rickshaws, TVS and Hero brands of
two-wheelers zip past on Sri Lankan roads. Shops in Colombo and
elsewhere display Indian consumer goods alongside those imported from
the US, Australia, Singapore and Europe.(IANS) |