SL - Canada trade to be further improved
Bilateral trade promotion, investments between Sri Lanka and Canada
hasn't really got off to sound footing during the last couple of years
and attention has been given by both parties to further promote the
trade between Sri Lanka and Canada by addressing the existing loopholes
that hamper the trade potential of these two countries.
Obeysekere. Picture by Saman Mendis
It is expected that Canada will be a well-known trade partner in the
business circle of Sri Lanka in another 10 years time, Canada -Sri Lanka
Business Council President Upali Obeysekere said .
Speaking at a seminar on "Building a strategic platform to promote
Sri Lankan exports to the lucrative Canadian market" Obeysekere said,
"Sri Lankan exporters need to find new ways to take the fullest
advantage of North American Free Trade Agreement (NAFTA) to capture a
fair share of trade in Canada as well as USA. We need to market our
products to main stream national markets rather than looking at smaller
segments where Sri Lankan exporters have enormous opportunities.
Total merchandise trade between Sri Lanka and Canada stood at $ 476.3
million in 2010 with Canadian merchandise imports at $ 127.6 million,
52.9 percent of which consisted of woven and knit apparel.
Canadian merchandise exports to Sri Lanka for 2010 recorded $ 348.6
million. Canada has been able to capture a significant share of the Sri
Lankan merchandise import market for wheat as well as other agriculture
Almost 92.6 percent of Canadian merchandise exports to Sri Lanka in
2010 were in wheat and leguminous vegetables which included dry peas and
Wheat exports remain the single most valuable item exported by Canada
to Sri Lanka, representing 74.9 percent of Canadian merchandise exports
to the country.