BOI at international trade fair in Xiamen

THE Board of Investment of Sri Lanka participated at the 11th China International Fair for Investment and Trade (CIFIT) in Xiamen, China recently.

The event is sponsored by China’s Ministry of Commerce and co-sponsored by the UNCTAD, UNIDO, IFC, WAIPA and China Council for the International Investment Promotion (CCIP). The event is a government-approved event held annually.

It is one of the largest international investment promotion events held in the world.

The BOI participated at the exhibition, hosting a stall at the International pavilion. It was reported that nearly 3,000-4,000 business delegates visited the BOI booth at the exhibition.

With the initiative of the BOI during the CIFIT, Minister Navin Dissanayake held discussions with Hon. Chen Jain, Assistant Minister of Commerce of the People’s Republic of China.

The discussions with the Chinese Minister focused on exploring ways to expand trade and investment relations between the two countries.

In terms of investment attraction, China is currently one of the leading countries in the world. The growth of China’s economy has however made her a major generator of FDI, investing overseas a total US$ 22 billion.

Seeking to expand trading ties between the two countries, both Ministers agreed on the importance for a solution to the growing trade deficit between China and Sri Lanka, in the former’s favour.

This issue could be in part addressed, by greater Chinese investment into Sri Lanka’s economy, which would create many opportunities and would have long-term benefits.