Sri Lanka Ukraine Business Council Established in Colombo

13th October 2010, www.island.lk

The Sri Lanka Ukraine Business Council was established during a meeting held at Galle Face Hotel on 11th Oct 2010 resulting from the initiatives taken by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL). Sajin Vas Gunawardena ,Member of Parliament was the Chief Guest.

The FCCISL also signed a memorandum of Understanding (MoU) with the Ukraine Chamber of Commerce and Industry during this visit. It was signed by Mr. Kosala Wickramanyake, President, Federation of Chambers of Commerce and Industry of Sri Lanka and Mr. Serhiy Skrypchenko, President of , Ukraine Chamber of Commerce and Industry on behalf of the two respective Chambers.

Establishment of Sri Lanka Ukraine Business Council emerged under this background.

Presently Sri Lanka’s trade with Ukraine is small compared to it’s Trade with the World. However, Sri Lanka’s exports to Ukraine has increased from US$ 26.8 Mn in 2004 to US$ 59.0 Mn. in 2008 and has declined to US$ 41.9 Mn in 2009.

Imports from Ukraine has increased from US$ 1.5 Mn in 2004 to US$ 52.9 Mn in 2008 and has drastically declined to US$ 9.6 Mn. in 2009.