Seminar on Lanka-Iraq trade

A seminar on 'Bilateral Trade with Iraq' organised by the National Chamber of Commerce will be held at the Chamber auditorium, D.R. Wijewardene Mawatha, Colombo 10, on Tuesday from 3.00 to 4.30 p.m.

Iraqi Ambassador Kahtan Al Janabi and Asst. Commercial Attache, Dr. Ali Al-Kuhlee will be the guest speakers. They will speak on business trends, trade potential, opportunities for export, import, investment and other services available in Iraq for Sri Lankans.

Participants could meet the Ambassador and representatives from the Embassy and get first-hand information on the relevant areas of interest.

According to Department of Commerce sources, the value of trade between the two countries that stood at US $ 8.72 million in 2003, topped US $ 89.99 million in 2013.

Iraq has lifted a ban on coconut fibre pith exports from Sri Lanka and has also agreed to relax restrictions on Ceylon Tea, according to Industry and Commerce Ministry sources.

Sri Lanka exported goods valued at US $ 89.80 million to Iraq and imported goods worth only US $ 0.19 million from Iraq during 2013. Tea has been a major export item to Iraq accounting for about 95 percent of Sri Lanka's exports to Iraq, with an estimated 15,000 mt of Ceylon tea being exported.

The Iraqi Ambassador encouraged Sri Lankan trained medical personnel such as anaesthetists, nurses and physicians, to work in Iraq.

The Iraqi State Trading Corporation has expressed interest in buying items such as rubber tyres, stationery, electrical cables, generators and accessories, apparel and textiles, household appliances, toys, foodstuff and covering for trailers from Sri Lanka.