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Sri Lanka to promote exports virtually to Chinese market

Sri Lanka to promote exports virtually to Chinese market

Sri Lanka’s Export Development Board (EDB) in collaboration with the Consulate General of Sri Lanka in Guangzhou, and the Department of Commerce of Fujian, had reportedly organised the “Fujian, China-Sri Lanka Economic and Trade Forum and Matchmaking event” recently via video conference and webcast.
The virtual event was attended by over 11,000 participants from China and Sri Lanka while officials of government promotional agencies such as the Sri Lanka Tea Board, the National Gem and Jewellery Authority, Sri Lanka Coconut Development Authority, Board of Investment and the Department of Commerce, and Sri Lankan Export companies had joined the programme from Sri Lanka, according to The Morning.
Officials of the government authorities in Fujian, led by the Fujian Department of Commerce, potential importers and investors of Fujian, and representatives of e-commerce platforms in Fujian had reportedly participated from China.
The forum had covered areas of bilateral trade, the economic scenario of both countries, trade potential for Sri Lanka in Fujian province, and e-commerce platforms in Fujian which are applicable to promote Sri Lanka’s products and find buyers in China.
Consul General of Sri Lanka in Guangzhou Priyangika Dhamasena has said at the event that the importance of narrowing the wide trade gap between Fujian Province and Sri Lanka, enabling Sri Lanka to explore trade opportunities in the province.
Meanwhile, EDB Chairman and Chief Executive Officer Suresh De Mel has reportedly requested Chinese enterprises to explore Sri Lanka, emphasising the importance of strengthening the trade relationship between both countries.

OSL take:

Sri Lanka and China enjoy strong bilateral and trade ties that continue to be strengthened further through a proposed free trade agreement (FTA). China is also a key development partner in Sri Lanka’s ongoing development programme. With Sri Lanka fast becoming a business hub in the South Asian region given it’s geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country, the island has been placed prominently in China’s Belt and Road Initiative (BRI). Given Sri Lanka’s expanding economy, Chinese businesses/investors could explore the growing opportunities in Sri Lanka and also look at setting up base in Sri Lanka to engage with other foreign countries using Sri Lanka’s trade pacts.

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Article Code : VBS/AT/12082021/Z_3

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