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| Sunday, 4 August 2002 |
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Indo-Lanka companies to cooperate Two memoranda of understanding were signed between Sri Lanka and Indian companies at the seventh India-Sri Lanka Joint Business Council (JBC) meeting held in Colombo recently. A memorandum was signed by Bhoruka Power Corporation Ltd of India and Sunro Company (Pvt) Ltd of Sri Lanka for a US$ 4.5 million deal to develop, construct and operate micro hydro projects in Sri Lanka while another agreement was signed between Abee Info Consumables Ltd of India and Computer Ribbon Mart of Sri Lanka to develop and market computer consumables. Minister of Commerce and Consumer Affairs Ravi Karunanayake and Minister of Enterprise Development, Industrial Policy and Investment Promotion and Constitutional Affairs Prof. G. L. Peiris were the chief guest and the guest of honour respectively at the meeting where 40 Indian and over 100 Sri Lankan delegates were present. The delegates were led by Chairman Indian section of India - Sri Lanka JBC, K. G. Baalakrishnan and Chairman Sri Lanka Section of the JBC Garanwille Perera. Minister Karunanayake emphasised the need to facilitate and boost bilateral trade and co-operate in technology between the two countries. He said services would be included in the Indo-Lanka Free Trade Agrement which is currently being re-negotiated. Prof. Peiris invited Indian business people to invest in Sri Lanka and said the business environment has improved in the island with the peace process. |
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