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Govt plans to strengthen trade with Sri Lanka
Aug '08
In order to strengthen the bi-lateral trade ties with Sri Lanka, Chen Deming, Commerce Minister of China held a meeting Mahinda Rajapaksa, the Sir Lankan President in Beijing, yesterday.

The Government of China has shown great amount of interest in making investments in Sri Lanka in order to help the nation develop its economy. The Commerce Minister assured the President of starting various projects in Sri Lanka this year.

The stage IV of new Trade Agreement will get over soon, under which China will offer concession to Sri Lanka for boosting its exports. The Government is also planning to set up textiles as well as light industries in Sri Lanka as it is considered to be an ideal location.

The bi-lateral trade between China and Sri Lanka had increased around 28 percent which has made both the nations all the more firm for enhancing two way trade.

The export value of China rose to almost 28.6 percent this year and its import of various products also witnessed a boost of nearly 30 percent. The over all trade balance saw a slight rise of 3.42 percent as against 2.66 percent in 2007.

The officials also discussed regarding the benefits Sri Lanka will have, by setting up special investment zone at the upcoming Chinese International Investments and Trade Council.

Some of the bureaucrats present at the meeting yesterday included Dr P B Jayasundara, Finance Secretary, Karunatilleke Amunugama, Ambassador, Gamini Senarath, Presidential Additional Secretary as well as members from Embassy.

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