Surge in China- Sri Lanka trade
Within a 10 year period to 2015, trade between China and Sri Lanka has seen a 6-fold increase from US$659 to $4 billion.
This was revealed by Rishad Bathiudeen, Minister of Industries and Commerce at the inauguration of the 3-day China Products (Colombo, Sri Lanka) Exhibition held this week at the Sri Lanka Exhibition and Convention
Centre (SLECC).
The exhibition provided an opportunity for Sri Lankan business and industry access to 120 Chinese companies that showcased their products. Chinese provinces and regions participating at the exhibition were Fujian, Chongqing, Shanghai, Guangdong, Hunan and Sichuan.
Mr. Bathiudeen said trade would further grow once the proposed Free Trade Agreement is signed between China and Sri Lanka.
He said while relations between China and Sri Lanka spans several centuries it has been enhanced in recent times and in such a backdrop this exhibition is important.
Thilak Godamanna, President, National Chamber of Commerce and Industry, said that Sri Lanka is one of the steadily growing economies in the world and China is an important trading partner and showing great promise as an emerging export market of Sri Lanka.
Among the key Chinese officials present at the inauguration of the exhibition were Li Yiwei, Deputy Secretary General, People’s Government of Guangdong Province and Lin Tao, President, China Council Promotion of International Trade Guangdong Committee.
Apart from machinery, the exhibition also focused on providing solutions for the tourism industry as well as Sri Lanka’s growing retail sector. The products showcased included bathroom accessories, household electronic appliances, construction material, hardware and machine tools, lighting and LED, consumer products, food products and machinery, home appliances, hotel supplies, house ware and home décor, furniture and interior products, etc.