Foreign Minister seeks enhanced trade with Iran

Minister of Foreign Affairs Rohitha Bogollagama met Iranian Finance Minister Davood Danesh Jafari at the Ministry of Finance and Economy in Tehran recently. He was accompanied by Minister of Petroleum A.H.M. Fowzie.

The Foreign Minister briefed the Iranian Minister of the investment opportunities available for Iranian investors in Sri Lanka and sought the assistance of the Government of Iran to enhance trade and investment with Iran particularly in the areas of agriculture, energy, technology, industry, construction and infrastructure development.

The Minister told the Iranian Finance Minister that the Government of Sri Lanka has already made project proposals to construct bridges at a cost of US$ 66 million, construction of the Katunayake-Padeniya section on the Katunayake-Anuradhapura highway at the cost of US$ 70 million, construction of an expressway from Colombo to Malabe, Sri Jayawardenapura at a cost of US$ 362 million and construction of flyovers in the Colombo city at a cost of US$ 63 million.

The Foreign Minister called upon the Finance Minister to consider granting line of credit for these projects.

The Iranian Finance Minister confirmed that the Government of Iran is seriously considering the proposals made by the Government of Sri Lanka for the line of credit for four major projects in the field of construction of bridges, highways and flyovers refered to above and that the Iranian Finance Ministry has recommended the proposals to the relevant authorities in Iran.

The Iranian Minister was pleased to note that Sri Lanka's Foreign Minister had come to Iran within the short period of his assumption of office and that the visit would definitely assist both countries to strengthen further trade and economic cooperation that exists between the two countries.

The Iranian Minister also noted that the Government of Iran values the relationship with Sri Lanka in high esteem and are pleased that the Government of Iran has considered all requests by the Government of Sri Lanka so far very positively and was looking forward to assist the Government in further development of Sri Lanka.

The Foreign Minister thanked the Iranian Minister for the cooperation and financial assistance extended by Iran particularly by the Iranian Ministry of Finance and Economy for the several development projects in Sri Lanka and also brought to the notice of the Iranian Minister that the Ceylon Shipping Corporation has already made a proposal to purchase two ships from Iran at an estimated cost of US$ 15-20 million adding that the Government expects the credit facility for this purchase as well.