Need for industrial zone in Lanka to cater to India, Pakistan

A top chamber chief has urged the setting up of an industrial zone in Sri Lanka to cater to Indian and Pakistan markets.

Nawaz Rajabdeen, President, Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), made this suggestion when a high powered trade delegation from Julin Province, China visited the FCCISL.

Rajabdeen said Sri Lanka has signed Free Trade Agreements with India and Pakistan and suggested that what is manufactured in Sri Lanka with 35 percent value addition could be exported to these two countries with zero tariff charges. He said that, but if those products are exported to those countries direct from China a heavy export duty will have to be paid when sold to India or Pakistan.

He said that if the Jilin Province decides to set up an industrial zone in Sri Lanka, they could select an ideal location with all the amenities in place and the Sri Lankan government would extend many attractive concessions on direct foreign investment in Sri Lanka.

FCCISL officials said they hope to take a delegation from Sri Lanka so that those trade delegates could procure joint ventures, bilateral trade and other export and import matters that would mutually benefit Sri Lanka and China.