21 February 2011

Sri Lanka Trade Minister Invites Indian Business to Set up in Industrial Zones. PPP to Propel $8bn 2010 Export Earnings beyond $9bn this Year

20th February 2011, www.island.lk

The Minister for Industry and Commerce Rishard Bathiudeen addressing a visiting Indian business delegation at the ministry premises recently said Sri Lanka had crossed the US$ 8 billion export earnings mark last year, and with some sharp strategies conceptualized by private-public partnerships 2011 will see Sri Lanka crossing the US$ 9 billion mark.

He invited the Indian business delegation to be part of this strong growth agenda of Sri Lanka.

The Indian delegation consists of businesses in the food and beverages, construction, paper and chemical industries. The minister invited the delegation to forward a set of proposals by the first week of March so that he could personally get involved in allocating space in the industrial zones, and even negotiate with other ministries to allocate lands for the cultivation of fruits and vegetables in the country as long as their was strong partnership with a Sri Lankan company.

Bathiudeen also referred to certain barriers in doing business in India, such as the quality checks on Sri Lankan tea. Being able to conduct these checks in Chennai itself was a welcome move that further strengthens trade under the Indo-Lanka trade agreement, the minister said.

The minister said the apparel Industry continued to perform well even without GSP+ trade concessions to the EU, due to the strong leadership shown by the private sector in infusing cutting edge innovation together with sharp cost cutting strategies which has enabled the industry to differentiate Sri Lankan merchandise against its main competitors such as China and Bangladesh.

The minister said the tea industry had crossed the 1.5 billion rupee export earnings mark with the clear ‘Ozone Friendly’ tea proposition, taking the high ground to add further value into the quality tea that Sri Lanka produces which commands the highest prices at any auction in the world.

Related Info :
Locations of Industrial Estates - Ministry of Industry and Commerce, Sri Lanka

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