Re-invited, Rishad plans high level delegation to
Kunming ’12 in June:
Sri Lanka thanks China for continuing investment flow
Investments from China to Sri Lanka are set to continue on an
increasing trend. “Your tenure in Colombo was marked with achievements.
A major one being increased Chinese investments in Sri Lanka” said
Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka on 26
April to Yang Xiuping, Chinese Ambassador to Sri Lanka who completed her
tenure of service in Colombo and who was paying a farewell call on
Minister Bathiudeen last week.
“The 150 strong Chinese delegation that attended our Expo 2012 in
March was a promising development for SL-China bilateral trade. I have
also been re-invited to Kunming 2012 international fair to be held in
mid-June to which we are planning strong, high level delegation just as
last year’s Kunming Fair” Minister Bathiudeen informed Yang Xiuping.
Rishad Bathiudeen, Minister of Industry and Commerce (right)
hands over a token of gift to Yang Xiuping, Chinese Ambassador
to Sri Lanka who completed her tenure of service in Colombo. |
During the Kunming 2011 called as the 19th China Import and Export
Commodities Fair and fourth South Asian Nations’ Trade Fair, 100
exhibitors from Sri Lanka took part while Lankan gem and jewelry
exhibitors reported large crowds for their displays with strong sales.
The South Asian Countries' trade fair is an annual regional trade
show organized in parallel to the China Import and Export Fair known as
the Kunming Fair and is limited to South Asian countries.
Kunming is a known transportation hub in south-western China, located
within the Yunnan Province. Sri Lankan participation at this years’
Kunming show saw the country. Sri Lanka’s Prime Minister D.M.Jayaratne,
joined (among others) by Minister Bathiudeen took part in the inaugural
ceremony along with Chinese leaders. “China thanks you for continuously
facilitating our investments here. We use the reliable industry
information provided by your Ministry for our investments here.
“We are planning to continue our investment cooperation with Sri
Lanka in future too” said Yang Xiuping.
According to the Department of Commerce under the Ministry of
Industry and Commerce, the total trade between Sri Lanka and China is on
an upward trend. In 2011, the total bilateral trade value topped US $
2239.43 million with the balance of trade in favour of China.
Sri Lanka’s exports to China, although still at a lower level, have
increased from US $ 10.9 million in 2002 to US $ 104.06 million in 2011
which is an achievement considering the fact that only eight countries
in Asia including Sri Lanka were able to maintain a positive Export
growth to China compared with 2008.
Among the important investments from China this year is the $ 550
million, 661-room Shangri La Colombo hotel. The hotel plans to complete
construction and to open in 2015. China was Sri Lanka’s largest lender
in 2010 giving $ 821 million accounting for 25% int’l borrowings. |