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Lanka promoting intra - regional trade - Trade Minister

The Sri Lankan Government is doing its utmost to promote intra-regional trade among SAARC member countries and thereby foster economic cooperation and development under the Chairmanship of President Mahinda Rajapaksa, Trade, Marketing Development, Co-operatives and Consumer Services Minister Bandula Gunawardene said.

Addressing a MoU signing ceremony between the Sri Lanka State Trading (General) Corporation (STC) and the TVS Lanka (pvt.) Ltd to provide motorcycles at concessionary terms to public servants, the Minister said that this scheme would vastly benefit government servants who wish to purchase motorcycles at reasonable cost through the STC.

TVS Lanka (Pvt.) Ltd which is an Indo-Lanka joint venture has identified its popular brands such as TVS scooty pept, apache RTR, flame, scooty streak, metro, star sport to the market. Therefore, with the appointment of the TVS Lanka (Pvt.) Ltd as the STC's official transport service provider, employees of the State sector establishments will benefit immensely.

"The flow of direct trade between India and Sri Lanka are expected to increase several-folds. Larger markets and fuller utilization of production capabilities and transfer of suitable production technologies would expand cooperation among member countries in the core economic areas," he further said.

The Minister further said that STC General Trading had been nominated for privatization under the previous regime. "But it has created history by ending its financial year without any bank over drafts, in recent years".

"The Government will not privatise any Government institution even if they incur losses," he said. "We will turn them into profitable ventures under the policies of the Mahinda Chinthanaya," he said.

The Minister further said that the Government will open the new STC outlet in Jaffna next month for the benefit of the public, making available a wide range of consumer products at affordable rates.

Meanwhile, two branches of the STC will also be opened in Vavuniya and Batticaloa next month under the "Uthuru Vasanthaya program," he said.

 

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