Chinese biz delegation meets Lankan counterparts

A Chinese business forum and a networking session with a trade delegation from China was held in Colombo last week.

The 46-member Chinese delegation comprising senior representatives of 23 Chinese companies and government officials was headed by the Deputy Secretary General of Zhongshan Municipal People's government, China, Cen Hongkai.

They met Sri Lankan counterparts, officials of the BOI and exchanged details on the investment climate in the two countries and had business to business meetings.

Sri Lanka-China Business Council President Navindra Abeysekera said that the council represents over 130 companies and they account for over 85 percent of the trade between the two countries.

During the recent official visit of President Mahinda Rajapaksa to China the two countries agreed to negotiate a Free Trade Agreement (FTA) and it is expected to be signed this year.

We appreciate this proactive and visionary leadership of the president in this regard because Sri Lanka can gain lot of benefits from a FTA with China, he said.

Today the population in China is 1.3 billion, in India 1.2 billion and in Pakistan it is 183 million. These three Asian countries together account for 38 percent of the world population. The free trade agreements with India, Pakistan and the proposed FTA with China, will help Sri Lanka become a manufacturing base with duty free access to this 38 percent of the world population, he said.

Hongkai said that Sri Lanka imports goods worth US$ 20 million from Zhongshan but Sri Lankan exports to Zhongshan is only around US$ 2 million. There is a great potential for trade and investment promotion between the two countries, Abeysekera said.

- GW