The Greater Mekong Sub region (GMS) could be a great market place for Sri Lanka to promote trade and investment, Small Industries Minister Daya Gamage said.
“In 2015, Sri Lanka imported goods worth US$ 764 million from Thailand, Vietnam, Laos, Myanmar and Cambodia. Sri Lanka’s exports were less than US$ 121 million to these GMS countries.This amounts to 4% of the nation’s total global earnings and 1% of the country’s total exports to the world.”
Thailand is Sri Lanka’s second largest export destination in the GMS region with Vietnam taking the top place.Although the cumulative trade between Sri Lanka and Thailand was around US $ 532 million in 2015 while exports from Sri Lanka to Thailand were valued at only US $ 37 million during the same period.
Sri Lanka’s exports to Thailand declined as earnings from gem and jewellery, Sri Lanka’s largest exports to Thailand declined significantly in 2014.Thailand’s main exports to Sri Lanka include cars, sugar, textile, dried fish , cement, chemical and automobile parts.
Sri Lankan exports to Thailand include tea, spices, gem and jewellery, fiber and metal products.
The Greater Mekong Sub region covers 2.6 billion square kilometers and has a combined population of around 326 million.
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