NCCSL seminar on Bilateral Trade

The National Chamber of Commerce of Sri Lanka (NCCSL) will hold a seminar on "Bilateral Trade between the Maldives and Sri Lanka" on January 25, from 3.00 p.m to 4.30 p.m at the Chamber Auditorium, D.R. Wijewardene Mw, Colombo 10.

The special guest will be High Commissioner Republic of the Maldives in Sri Lanka Hussain Shihab and will be accompanied by Deputy High Commissioner Dr Hussain Niyaz and President of the Maldivian National Chamber of Commerce and Industries of Male Ahmed Abdul Gaffoor. Gaffoor will address the participants on the current business trend, trade potential, opportunities for export, import, investment and other services for Sri Lankans in the Maldives. Participants will also have an opportunity to interact with the officials of the High Commission to get first hand information on any trade and business related issues in doing business with the Maldives.

At a recent visit to Sri Lanka by the the Maldivian President, Mohamed Nasheed showed keen interest in promoting trade between the two countries and said that the Sri Lankan producers could increase exports to the Maldives and specifically mentioned that milk and vegetable oils have much scope in the island. According to him, milk consumption in the Maldives is very high and Sri Lanka could benefit by this.

The prevalent economy in the country is based on tourism, agriculture, fisheries and the export of marine products. Main imports from the Maldives consisted of dried and salted fish, maldive fish, tortoise shells. Exports to the Maldives from Sri Lanka included fruits, vegetables, chicken, meat, ornamental fish, rice and other consumer products. Main industries of Maldives are tourism, fishing and shipping. Sri Lanka is the largest exporter to the Maldives. The Maldives is seeking more investments from Sri Lanka, especially in construction, transportation and renewable energy. Additionally with the recent credit line offered by the Sri Lankan government to the Maldives, it would provide additional opportunities to business partners in Maldives in developing bilateral trade between Sri Lanka and the Maldives generating more benefits to Sri Lankan exporters.