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| Sunday, 8 September 2002 |
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| News Business Features Editorial
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Ravi K. calls for enhanced trade ties between Australia, Sri Lanka Commerce and Consumer Affairs Minister Ravi Karunanayake who met a delegation of leading Australian entrepreneurs last week urged them to fully utilise the trade potential available in Sri Lanka and to earmark Colombo as the "distribution hub" for their international trading network. The Minister said that Sri Lanka had all the necessary ingredients to play this role. Representatives from eight leading companies from Western Australia (Perth) are here on an investment promotional and business development tour. The tour was organised by the Sydney based Trade Consul of the Sri Lanka Department of Commerce. Minister Karunanayake said the cordial trade and cultural links between Australia and Sri Lanka have to be further strengthened. "Time has come to harness all available resources to make the future brighter in terms of business activity," he said. The delegation also discussed the possibility of venturing into transport - both rail and road, hovercraft service and industrial gas supplies tourism and IT. The Minister said he was confident that all of these areas could be considered for mutual benefit. There are 50 Australian companies engaged in a wide range of activities such as trading, manufacturing, cellular communications, construction, port development, recreation and management consultancies in Sri Lanka. Australia is positioned as the 13th supplier and 18th buyer of Sri Lanka in terms of volume and value. According to Commerce Department sources, there has been an eight fold increase in total trade turnover between the two countries from Rs 2398 million in 1991 to Rs 18,400 million in 2001. The Minister said he was confident that this figure could increase by a further ten per cent, if proper marketing of Lankan products and services were carried out. |
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