The Ceylon Chamber of Commerce (CCC) recently signed a co-operation agreement with the Chamber for Promotion and Economic Development of the BRICS Countries (Brazil, Russia, India, China and South Africa) called "BRICS-PED". This special agreement will initially promote an identified range of products/services between Sri Lanka and BRICS countries and facilitate alliances on reciprocal basis.
A CCC media release said Sri Lanka will promote Apparel, Gems & Jewellery, Rubber, Rubber Products, Spices, Tea and Tourism whilst Brazil will focus on promoting Cosmetics, Diamonds, Emeralds, Food & Beverages, Fresh Oranges, Medical Equipment, Pharmaceuticals and Tourism through the project.
Both institutions will call applications using a prescribed format from potential companies, which are interested in entering into partnerships for possible trade tie ups between Sri Lanka and BRICS countries. Products will be identified using HarmonizedSystem Codes (HS Codes) in order to avoid mismatch of business interests of applicants.
"Applications received will be verified for accuracy of details by both institutions prior to forwarding them to counterpart organisation," said a spokesman of the Ceylon Chamber of Commerce. Once counterpart organisations receive applications, they will publicise details of business interests amongst potential parties who are willing to partner and enter into transactions in Sri Lanka or BRICS - PED Countries. After matching applications are received by CCC and BRICS-PED, they will be provided to the company concerned with a view to introduce parties together for business negotiations.