Sri Lanka is keen to explore trade and business links with US $ 1.6 Bn Palestine economy. A stronger Palestinian economy in future can present mutual trade opportunities to both, Minister of Industry and Commerce Rishad Bathiudeen said.
Minister Bathiudeen releaved this to when he met Ambassador of State of Palestine Dr Anwar H Al Agha. The Palestinian Territory GDP for the second quarter of 2011 stood at US$1,598 million with the projection that the GDP growth to exceed 3% in 2011. According to the Department of Commerce of Sri Lanka, in 2010, Sri Lanka exported goods to Palestine to the value of US $ 0.02 Mn, with no imports from Palestine. The balance of trade between the two countries has always been in favour of Sri Lanka. Sri Lanka’s major exports to Palestine are special yarn twine, coconut, and vegetable textile fibre.
“The State of Palestine wants to increase its trade cooperation with Sri Lanka from its current levels. Sri Lankan business delegations are encouraged to visit Palestine and meet Palestinian business community” Dr. Agha sadi.