Lanka-Iraq to expand economic cooperation

Mahinda ALUTHGEDARA

The Iraqi Government will implement a program to extend economic co-operation and relations with Sri Lanka in the near future. The matter has been discussed at length with the private sector in Iraq, said visiting Iraqi Trade Minister Dr Safa Aldin Mohamed addressing the seventh (sessions) meeting of the Sri Lanka-Iraq Economic and Technical Co-operation Council in Colombo yesterday.

The Iraqi Minister said the sessions provided an opportunity for the two countries to share experiences on Trade Agreements.

Industries and Commerce Minister Rizard Bathiyutheen addressing the sessions said bilateral relations between Sri Lanka and Iraq dated back to many years. The Co-operation Council was set up in terms of Section 5 of the Economic, Scientific and Technical Co-operation Agreement signed between the two countries in 1975. Bilateral trade between the two countries which totalled 8.76 million dollars in 2003 had reached 37.5 million dollars in 2009 and 98 percent of this accounted for Sri Lanka tea exports to Iraq.

Sri Lanka Chamber of Commerce CEO Harin Mahwatta, Sri Lanka National Trade Chamber Secretary Tilak Godamanne and Sri Lanka Bureau of Foreign Employment AGM L K Ruhunage were also present.

The Sri Lanka Chamber of Commerce and the Sri Lanka National Trade Chamber signed two agreements with Iraq for the promotion of trade between the two countries at these sessions.