Despite modest bilateral trade between Sri Lanka and Canada, surging exports to the latter by the former could turn it around, according to Sri Lankan minister of industry and commerce Rishad Bathiudeen. According to the Sri Lankan department of commerce, Canada-Sri Lanka trade in 2018 stood at $436 million, a near 10 per cent rise from the previous year.
Bathiudeen last month discussed expansion of bilateral trade and commercial ties with high commissioner of Canada to Sri Lanka David McKinnon in Colombo.Despite modest bilateral trade between Sri Lanka and Canada, surging exports to the latter by the former could turn it around, according to Sri Lankan minister of industry and commerce Rishad Bathiudeen. According to the Sri Lankan department of commerce, Canada-Sri Lanka trade in 2018 stood at $436 million, a near 10 per cent rise from the previous year.#
Sri Lankan garment exports to Canada are on the rise, and rubber and other by-products such as tires, coconuts and sea food are also rapidly diversifying the export product mix, Sri Lankan media reported citing government statistics.
Some notable Sri Lanka-Canada collaborations include high-tech production facilities for garments, agriculture value addition such as plant extraction and essences, sea food processing, and partnerships in information and communication technology.
Fibre2Fashion News Desk (DS)
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