Dutch trade balance in Lanka’s favour

Sarath Malalasekara

Trade between the Netherlands and Sri Lanka continues to grow. The volume of trade in 2006 was US $199 million, it has increased in 2007 to US $ 226 million. an increase of 24% over 2006.

Speaking at the Annual General Meeting of the Netherlands - Sri Lanka Business Council Sri Lankan Ambassador in Netherlands Pamela J. Deen said the balance of trade is in Sri Lanka’s favour as more exports from Sri Lanka have flown into the Netherlands.

Ambassador Deen said the largest project involving Dutch Companies in Sri Lanka is the construction of the Dikkowita Fisheries Harbour Project which is being funded by the Dutch Government under the ORET Scheme.

This harbour is supposed to be South East Asia’a largest fisheries harbour and lies between the Colombo Airport and Colombo Harbour. “The ongoing ethnic conflict in the country has hampered Sri Lanka’s potential, yet it has not adversely affected the economy of the country.

The Sri Lanka has been growing at an average of 4-5% per year. In 2007, an increase of 6% was recorded in the last three consecutive years since independence. While the per capital income rose to US $ 1,617 unemployment was recorded at 6% the lowest record in 2007 she”, said.

The Sri Lankan Ambassador invited private sector companies in the Netherlands to engage in the reconstruction work as it would benefit them while assisting Sri Lanka.

Menken Maritime Managing Director Bernard Menken who is also the President of the Netherlands - Sri Lanka Business Council said the Council which was founded in 2000 and revived later could be a platform for Dutch and Sri Lankan companies who want to work with companies in each other’s countries.