Agreements strengthen cooperation

by Surekha GALAGODA

Over the past years the economic and trade cooperation between Yunnan Province, and Sri Lanka has shown a strong growth.

The bilateral trade volume in 2008 was nearly six times more than 2005 with an average annual increase rate of 80 percent, said Governor Yunnan Province Qin Guangrong at the inauguration of the Sri Lanka Yunnan (China) Exchanges and Cooperation Promotion, held last week.

Governor Yunnan Province Qin Guangrong and Prime Minister D.M. Jayaratna at the inauguration of the Sri Lanka Yunnan (China) Exchanges and Cooperation Promotion.

He said that despite the downtrend caused by the global financial crisis bilateral trade is restoring its previous momentum this year.

The prospects for bilateral cooperation in the areas of tourism, mining electric power, education and infrastructure development are bright.

A delegation of 180 persons from the fields of business, tourism, mining , education, electric power, telecommunication, agriculture, culture arts and the media were flown in for the promotion. Governor Guangrong said that the objective of signing eight agreements is to further strengthen the cooperation between Yunnan and Sri Lanka.

To further strengthen the bilateral cooperation between Yunnan and Sri Lanka it is necessary to establish a mechanism of high profile exchange of visits, boost cooperation on natural resource development, trade and economy, marketing and interconnectivity on travel.

There are opportunities to cooperate on energy development.

The technology and know-how Yunnan province possesses in the development of clean energy such as hydro power, wind power, biomass energy, and solar power could aptly meet the demand of Sri Lanka.

Yunnan Province is a renowned base for processing and trading of jewellery in China while Sri Lanka is well known for precious stones.

Our strengths can be combined for mutual benefit.

He suggested that both sides seek the possibilities of cooperation on animal husbandry, tea plantation, agricultural and forest machinery and agricultural and forest products processing.

Yunnan Province and Sri Lanka should further strengthen the cooperation in the field of aviation and transportation to provide more facilities to increase the flow of people and cargo as well as tourism development.

Governor Guangrong suggested the enhancement the cooperation on aviation and transportation to further strengthen the relationship between Yunnan and Sri Lanka.

Prime Minister D.M. Jayaratna said that developing countries such as Sri Lanka are compelled to use new and advanced technology to improve productivity in Sri Lankan companies. Therefore the support given by Yunnan Province is most welcome.

He also appreciated the measures taken by the Chinese Government and the Yunnan Province to increase trade volumes to China.

He said that during the last three years Sri Lanka was able to establish a sizeable market share in China for products such as tea, gems and jewellery, coir fibre and rubber and this will help bridge the trade imbalance.

The Prime Minister requested investors in the Yunnan Province to make investments and to utilize the well educated and trainable workforce.

He said that the agreement on agriculture development will provide technical assistance and know-how to Sri Lankan experts in the field and also introduce new technology to enhance productivity.

Sri Lankans will get scholarships for study in China and Chinese universities are to be established in Sri Lanka as a measure to develop higher education in the country under the agreement concerning higher education.

The agreement on the telecommunication sector will provide new technology to reduce the IDD rates of service providers.