‘Doha ‘12 highlights SL’s improving trade profile in ME’

Qatar, Sri Lanka trade and bilateral relations are further boosted by the on-going Doha Forum 2012. “Our participation in this event is a sign of Sri Lanka’s improving profile in international trade, specially, in the Middle East trade” said Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka.

Minister Bathiudeen is a member of the 54 strong delegation from Sri Lanka led by President Mahinda Rajapaksa to represent Sri Lanka at this three day forum. The international guests of honour in this year’s Doha Forum are President Mahinda Rajapaksa and former President of Senegal and current Secretary General of the International Organization of La Francophonie, Abdou Diouf.

Doha Forum 2012 is the 12th edition of this forum and takes place in the presence of Hamad Bin Khalifa Al Thani, Emir of the State of Qatar.

The forum is organized by Qatar’s Ministry of Foreign Affairs and attended by more than 610 participants representing 84 countries and organizations comprising very high-profile personalities, eminent political leaders, decision-makers and members of parliament, renowned businessmen, academics, media figures and experts, as well as representatives of the civil society and regional and international organizations.

The Doha Forum is scheduled to conclude on May 22.

According to the Department of Commerce,the total bilateral trade between Sri Lanka and Qatar has increased to US $ 174.89 million in 2011 from the $16.57 million levels of 2002. As a tenfold growth in Sri Lanka ,Qatar bilateral trade being reported,the first ever joint trade talks between Sri Lanka and fast growing Qatar are also in the offing.“We are now interested in convening the First Joint Council meeting between Sri Lanka and Qatar under the 2012 Agreement at an early date,” the Minister said. When considering Sri Lanka’s trade with the Middle East, Qatar ranks as the 15th trade partner among the Middle East countries showing that there is still upward trade potential between the two countries.

Qatar is a growing market with higher purchasing power. Recently Sri Lanka has been able to enter in to the construction sector in Qatar.Expanding Qatari employment and labour markets show strong potential for Sri Lanka’s professional services,skilled and semi-skilled workers. According to the Department of Commerce, in 2011, Sri Lanka’s exports to Qatar were $ 10.86 million with main export items to Qatar being ‘food preparations’ (16%, includes, Lankan cordials, jams,spices, ginger beer etc.) followed by tea, citrus fruits and vegetables. In 2011, Sri Lanka’s imports from Qatar were $ 174.89 million the major imports being polymers of ethelene, minerals and chemical fertilizers.