Landmark Sino-Lanka agreement on export promotion | Sunday Observer

Landmark Sino-Lanka agreement on export promotion

In a landmark development aimed at fostering Sino-Lanka trade ties, the Colombo based International Business Council, (IBC) has come to an international agreement with the China- based China-Kunming Exhibition and Trade Centre of South Asia and South East Asia Import Commodities Trading Co. Ltd.(YMCI)

“This is the first time that a Sri Lankan Trade Chamber has teamed up with an overseas trade partner in such a pioneering venture and it would give Sri Lanka’s business and especially, exporters leverage right across Asia, IBC President Kosala Wickremanayake told the Sunday Observer.

“This is an extension of China- South Asia Expo. The trade Centre project is of much significance for deepening China’s open cooperation and mutual benefit to South and South Asian nations. The Centre is working hard to develop the everlasting China- South Asia Expo into a globally oriented cooperation platform for extensive consultation and joint contribution for shared benefit with Unan Province, the IBC President said.

Wickremanayake, himself a former President of the Federation of Chambers of Commerce and Industry in Sri Lanka (FCCISL) and a former Vice President of the SAARC Chamber of Commerce and Industry (SCCI) said, “This idea is a great idea aimed at connecting China with South Asia and South East Asia based on the One Belt- One Road concept which will also increase connectivity for the Sri Lankan exporters,”

This opportunity will pave the way for Sri Lankan Exporters who wish to have their products on display to do it right now, as the stalls are already open. There is no levy or charge for the display of these products, he said.

“This would mean that Lankan products will get widespread exposure and leverage not only in China but across India, Pakistan, Myanmar, Thailand, Singapore, Indonesia, Cambodia, and Malaysia.

Some of the products which could have enormous potential are tea, virgin coconut oil, spices, gems and jewellery and apparel,” he said.

Responding to a question as to the scope of Sri Lanka’s future prospects for the export of Black Tea, given the rapid increase in the import of Black Tea in the Chinese market, he said China was a fast growing market being the world’s largest consumer of Teas and the export of Black Tea had a tremendous potential with the Chinese younger generation developing a passion for Sri Lankan Black Teas

He said the Centre is also available for promotional activities and that state agencies such as the Sri Lanka Tea Board, Sri Lanka Tourism Board, Board of Investment (BOI) and any others also had the option of running stalls there which would be ideal and cost free, he said.