Top Chinese trade delegation due here for joint ventures

A high-powered business delegation from China will arrive in Colombo as a follow up meeting to discuss joint venture investment with local businessmen in the near future.

This is the first time a cross section of businessmen from all regions were included in a high-powered business delegation of 60 members who toured China with the Presidential delegation. It was the most successful business tour of the government, said the leader of the business delegation Nawaz Rajabdeen.

He said that we had representatives from different districts from small and medium business houses, and they had a very good exposure and had very successful meetings with the Chinese investors arranged by the Chinese Council for the Promotion of International Trade.

Many MoUs were signed by the Micro car assembly plant, establishing commercial vehicles for the agricultural sector and an apparel accessories manufacturing unit, Small and medium type businessmen from the agricultural sector negotiated to set up a plant for particle board with paddy husks burnt in Sri Lanka.

President Mahinda Rajapaka was very keen to give more exposure to small and medium type business delegates for joint venture opportunities.

The Dongfeng Automobile Co Ltd showed a keen interest to set up an assembly plant to manufacture micro vehicles for export to the SAARC region, Sri Lanka will be the hub for exports taking advantage of the FTA, said the President of FCCISL Nawaz Rajabdeen.

The Shanghai Machinery and Equipment Corporation will set up a manufacturing unit to manufacture tools and other connected equipment.

Jiangling Motors Group held a discussion with a leading motor vehicle importer to set up a joint venture investment in Sri Lanka.

Beijing Brilliant Gems and Jewellery showed an interest to import precious stones for their jewellery industry.

Qingdao XinGben Barrow Ltd has a contract to export different types of carts for the construction industry on CKD and later set up a manufacturing unit.

A large number of small and medium type manufacturing industries showed an interest in setting up factories to market their products in the SAARC region.