Ceylon Chamber of Commerce reaches out to emerging markets
The Ceylon Chamber of Commerce (CCC) 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 recently.This special agreement will initially promote an
identified range of products/services between Sri Lanka and BRICS
countries and facilitate alliances on reciprocal basis. This path
breaking initiative CCC BRICS-PED Business Co-operation Project is
implemented from May 1,2012.
Sri Lanka will promote apparel,gems and jewellery, rubber, rubber
products, spices, tea and tourism, whilst Brazil will focus on promoting
cosmetics, diamonds, emeralds, food and 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 Harmonized System Codes(HS
Codes)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 the 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.
BRICS is an international organization of leading emerging economies,
arising out of the inclusion of South Africa into the BRIC group in
2010. As of 2012, its five members are Brazil, Russia,India,China and
South Africa. With the possible exception of Russia, the BRICS members
are all developing or newly industrialized countries,but they are
distinguished by their large, fast-growing economies and significant
influence on regional and global affairs. As of 2012, the five BRICS
countries represent almost 3 billion people, with a combined nominal GDP
of US$ 13.7 trillion,and an estimated US$ 4 trillion in combined foreign
reserves. Emerging markets are nations with social or business activity
in the process of rapid growth and industrialization.
CCC BRICS-PED Business Co-operation Project was facilitated by Dr.
Mahinda Balasooriya, Ambassador for Sri Lanka in Brazil.