SL - Turkey trade expands

As Sri Lanka-Turkey bilateral trade volume crossed $ 200 mn levels for the first time, the 16th largest economy in the world and the fastest growing country in Europe too wants to expand its bilateral trade with Sri Lanka.

"We want to expand our trade cooperation with Sri Lanka. Various business Chambers of Turkey are keen on establishing links with the Sri Lankan private sector to expand bilateral trade" revealed Serpil Alpman, Turkey's visiting Ambassador ranked diplomat on November 26.

Alpman who was leading a team of Turkish officials to Sri Lanka, was making a courtesy call on Rishad Bathiudeen, Minister of Industry and Commerce at the Ministry of Industry and Commerce, Colombo.

"We have become an important actor in global trade and we want to expand our trade cooperation with Sri Lanka as part of our expansion. We are now trying to make the needed reforms to join the EU and are targeting $ 500 bn exports across the world by 2023" Alpman said, and added: "We also believe that direct air-links between Turkey and Sri Lanka can assist in strengthening current bilateral trade volumes in a considerable way.

"I am pleased to say that official discussions to establish direct air-links between Turkey and Sri Lanka are currently on-going at higher levels."

Minister Bathiudeen, said: "We warmly welcome you and your special team to Sri Lanka and I am pleased to inform that for the first time, our bilateral trade crossed $ 200 mn (mark) in 2011, showing a total of $ 206 mn.

"We too are keen on Chamber level trade exchanges and new direct air links to boost bilateral trade further. We believe that there is strong but yet unrealised trade potentials between both countries which we should jointly explore through these measures."

Turkey and Sri Lanka signed an agreement on air transportation in December 2008. Turkey was the fastest growing economy in Europe in 2011 with 8.5% GDP growth and the 16th largest economy in the world with a GDP of $ 770 bn (2011).

Sri Lanka's trade with Turkey has been on an increasing trend for the last few years. Turkey is the sixth largest buyer of pure Ceylon Tea.