Sri Lanka should try to reduce mineral material imports such as coal and look towards importing more high tech products and services from Russia opined Trade Commissioner of the Russian Federation Dr. Alexander Rybas, yesterday at the National Chamber of Commerce (NCCSL) hosted Russia Lankan Business Forum.
It was held to explore trade and investment opportunities between Sri Lanka and Russia.
The island nation also must increase tea exports in value addition form and also more spice, gem and jewellery, leather goods including shoes.
The forum introduced an 11-Member Business Delegation from Russia, to explore trade and investment opportunities between Sri Lanka and Russia and fostering international business ties.
“We are keen to explore opportunities in power, shipping, ship building, education and high tech sectors.”
Russian Ambassador to Sri Lanka L. S. Dzhagaryan said that they are taking several steps to increase bilateral trade between the two countries. “We are very keen to assist Sri Lanka in every way to develop further.”
President NCCSL, Deepal Nelson, said that investing in Sri Lanka it has several FTA’s with neighboring countries and Thailand. “Sri Lanka is among the few to have a FTA with both Pakistan and India.”
“Due to the FTA’s if you manufacture here you can export to a market of nearly 2 billion.”
Secretary to the Minister of Industries, Thilaka Jayasundara said that the trade between the two countries is around USD 520 million with trade balance in favour of Russia.
“There is huge potential to increase this.” The visiting delegation represents diverse sectors such as pharmaceuticals,trade, fertilizer, hi-tech, infrastructure development, logistics, shipbuilding and port infrastructure, IT solutions, education, banking & finance sector etc.
There was also a round table discussion attended by several invitees representing the Embassy of Russia in Sri Lanka, Ministry of Industries, Board of Investment of Sri Lanka, Russian Sri Lanka Business Council and the National Chamber of Commerce of Sri Lanka.
(SS)
