France eyes Sri Lanka's construction and energy sectors

Sri Lanka has invited top level French business and industry delegations to the mega export exhibition Sri Lanka EXPO 2012. Sri Lanka also welcomes French investors to partner our economic upswing", said Minister of Industry and Commerce, Rishad Bathiudeen.

Ambassador of France to Sri Lanka and the Maldives, Ms Christine Robichon, (centre) and, Economic and Commercial Counsellor Embassy of France in Sri Lanka and the Maldives (at left) Jean Louis Poli called onMinister of Industry and Commerce (extreme right) Rishad Bathiudeen.

I invite French business and industry delegations to the mega export exhibition Sri Lanka EXPO 2012, organised by the EDB. I believe that this will be an important step in strengthening bilateral trade relations Minister Bathiudeen said.

France is now aware of Sri Lanka's dynamism. Details on Sri Lanka's new macro-economic data should be made available to the business and investor community of France for their awareness. Ms Christine Robichon said. France wants to invest in Sri Lanka's construction sector. We are also keen on the power and energy sector, especially on energy efficiency, Ms Christine Robichon said.

According to the Department of Commerce of the Ministry of Industry and Commerce, France is an important trading partner for Sri Lanka, accounting for $ 310 m of total trade turnover in 2010.

Trade between the two countries has been fluctuating. In 2010, Sri Lanka reported a positive trade balance of $ 8.06 m in its trade with France, which in 2005 stood negatively for Sri Lanka at $ 21.62 m.

The trade balance has been in favour of Sri Lanka during the past six years except in 2005 and 2008. In 2010, total exports to France recorded $ 159 m.

The other major export items in 2010 were fish fillets (10.5 percent), bicycles and other cycles (6.3 percent), articles of vulcanised rubber (4.9 percent), Frozen Fish (4.1 percent), and pneumatic tyres (4 percent).

In 2010, imports from France recorded $ 151 m, electrical apparatus for line telephony/line telegraphy parts being the largest item imported by Sri Lanka from France at (27% of total imports). The other main imports were sugar, parts of aircraft, uncoated paper and paper board, railway construction materials iron or steel, woven fabrics, plates, sheet, strip, rod and profile shapes or rubber and instruments and appliances used in medical surgical, dental and veterinary sciences. Among potential Sri Lankan exports to France are garments (woven and knitted), rubber based products, wooden toys and games, leather based products (footwear, bags), gem and jewellery items, tea, ceramic products, essential oils, spices, coconut fibre based products, and handicraft/ornamental items and packaging items.