Sending industrial delegation to Expo 2012:
Portugal eyes Lankan energy, apparel, edible oil sectors
Portugal, which is re-emerging due to its economic reforms, will send
high level business and industry delegations to Sri Lanka Expo 2012 and
is keen for apparel synergies with Sri Lanka. Portugal is also keen on
the energy, water and edible oil processing sectors here, said Industry
and Commerce Minister Rishad Bathiudeen.
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Industry and Commerce Minister Rishad
Bathiudeen (left)
meeting the newAmbassador Designate of Portugal accredited
to Sri Lanka Jorge Roza de Oliveira. |
Minister Bathiudeen said this in the aftermath of his in-depth
discussions recently at the Industry and Commerce Ministry with the new
Ambassador Designate of Portugal accredited to Sri Lanka with residence
in New Delhi Jorge Roza de Oliveira. De Oliveira previously presented
his credentials to President Mahinda Rajapaksa in Colombo.
The international press widely reported that on December 20, the
International Monetary Fund (IMF) having approved a disbursement of $
3.8 billion to Portugal after completing its second review of the
country. According to the Commerce Department, the total trade turnover
which stood at US$ 7.1 million in 2009 has drastically increased to US $
66.5 million in 2010 due to import of aircraft valued at US $ 60.69
million from Portugal. Sri Lanka’s usual main imports from Portugal are
articles of stone, plaster, cement, asbestos, mica or similar materials,
sound recording machinery, woven fabric, self-propelled bulldozers and
data processing machines and units. Apparel, textile and clothing have
been the major Sri Lankan export items to Portugal in 2010 contributing
35% of total exports. Other major exports items are coconuts, cashew
nuts (fresh or dried), solid tyres, cotton waste, coir fibre, bicycles
and porcelain tableware, kitchenware, household articles and toilet
articles.
Minister Bathiudeen also invited strong business and investment
delegations from Portugal for the Sri Lanka Expo 2012. “This is a mega
export exhibition to be held in Sri Lanka after 15 years,” Minister
Bathiudeen said.
Minister Bathiudeen’s invitation was duly accepted by Roza de
Oliveira who said: “We will certainly take part in the Sri Lanka Expo
2012 and very much looking forward to it. I believe that there’s strong
synergy potential between apparel sectors of Portugal and Sri Lanka
which we want to explore further during the forthcoming Expo 2012 event.
A collaborative approach by both countries can help in the competitive
international markets.”
“At present, economic diplomacy is very important for Portugal and
it’s my priority as well. Portugal is undergoing economic reforms at the
moment and our companies are now looking at the alluring South Asian
region. Sri Lanka is very attractive to our private sector due its
growing GDP rates and the political stability. Portugal and its private
sector firms are keen on Sri Lanka’s alternative energy, water
management and vines and edible oil processing sectors as potential
investment avenues,” Roza de Oliveira added.
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