Indo-Lanka trade to top US $ 15 bn by 2015

Shirajiv Sirimane in Jaffna

The Indo- lanka trade level passed the US $ five billion mark in 2011 and it would increase two fold (US $ 15) by 2015 said V Mahalingam Consul General of India in Jaffna.

Speaking at the opening ceremony of the fourth Jaffna International Trade Fair organized by Lanka Exhibition and Conference Services, he said that the trade volume in the last 12 years have increased eight fold.

He also said that stage three of the Kankasanthurei harbour re building process would commence in two months. Under the first two phases the harbour draft was made four meters and under the third stage it would be made 8 meters. Mahalingam said that eight submerged ships too were removed in the process. He said that the port would be a high commercially viable venture.

It could facilitate trade between India and the North province as well as have better sea links between Colombo and Hambantota harbours.

Mahalingam said that the Achchuveli Industrial Zone too is being reconstructed and this too would bring investors to Jaffna. “It would also help existing entrepreneurs to set up new facilities,” he added.

He said that the Indian government is also assisting the reconstruction of the Northern Railway from Madawachchiya to KKS and also to Mannar. He also disclosed that the State Bank of India would also set up a branch in Jaffna soon.

President, Federation of Chamber of Commerce and Industry, (FSSISL) Kumara Mallimarachchi said that each year he traveled to the fair overland witnessed the vast development taking place on route to Jaffna which proves the commitment of the government to re-develop the North and East provinces.

He said that road development would make Colombo Jaffna a less than six hour drive.

He said the international exhibition a brain child of former FCCISL President Kosala Wickramanayake had helped many entrepreneurs in Jaffna to find partners from the South as well as leading corporates in Colombo to set up officers and appoints agents in the North.

Yalpanam Chamber of Commerce President, K. Poornachandran said that the trade fair had given Northern entrepreneurs a new platform to add technology and also find partners both locally and internationally. He said that there is a development boom taking place not only in the South but in the North-East as well and Northern entrepreneur should make use of this opportunity to introduce value addition to their products.