Delegation here to boost Lanka-Belgium trade

A Belgium trade delegation comprising 15 companies was in Sri Lanka to explore investment opportunities and promote trade relations.

'The Belgium Week 2006' was organised by the Counsellor for International Trade for the Kingdom of Belgium. The trade mission was on a visit to encourage and develop trade relations and seek opportunities for Belgium investments in Sri Lanka.

The Counsellor for International Trade for the Kingdom of Belgium, Ms Sicille P.C. Kotelawala said the MoU between the two major parties in the country has created a healthy environment for trade and business activities.

It is the hope of every citizen that the collaboration between the two key parties will set the tone for peace and prosperity.

It is the last chance for peace in the country and if the protagonists do not grab the opportunity the country will face adverse consequences, Ms Kotelawala said.

The trade mission focused on boosting trade activities and develop entrepreneurial skills of businessmen in both countries. Initiatives have been taken in collaboration with Flanders Investment and Trade (FIT) and Agence Wallonne a I' Exportation (AWEX) to promote investment and strengthen trade ties between the two countries.

Belgium has been a good trade partner of Sri Lanka recording the second place in import statistics among the countries of the European Union with a value of 189.44 million Euros.

Sri Lanka does 70 percent of its value added exports to Belgium and top among them are Blue Diamonds Jewellery which has gained international acclaim.

Blue Diamonds Ltd. of Ceylinco Consolidated, a pioneer of the diamond industry in Sri Lanka is the largest exporter of diamond jewellery with an annual export value of US$ 200 million.

The Belgium companies comprising interior designs, tourism, food and beverage, construction, tobacco and information technology will assist the government and the private sector to build strategies to develop these key areas of the economy.

Developing the IT industry and expanding its network throughout Sri Lanka was one of the primary intentions of the delegation. The Belgium IT company said they are ready to accept the challenge and face strong competition from giants such as Microsoft and other leading players.

Building modern trains and improving the railway network for effective and efficient transportation will be taken up by a Belgian company.

(LF)