Chinese SMEs seek business with Sri Lanka

ECONOMYNEXT – Chinese small and medium enterprises are seeking more business links with counterparts in Sri Lanka, most of whose investments and projects have come from large Chinese state-run multinationals.

The latest Chinese business team made up of SMEs to visit the island was one from Liaoning and Fujian Provinces, the former China’s worst-performing regional economy where factory output fell 7.7 percent in the first six months.

Qu Wanliang, deputy researcher, Liaoning Provincial Commerce department, said Chinese firms want more trade with Sri Lanka, a “fast growing emerging economy.”

In 2015 Liaoning  province exported $80 million worth of products to Sri Lanka, up 25% from the year before, he told a forum held by the Ceylon Chamber of Commerce.

Liaoning  province is an old industrial base where equipment manufacturing, petroleum, metal, and agri-processing industry is very strong, Qu Wanliang said.

“In 2015 whole province’s import-export trade value was over $100 billion,” he said. “We export a lot. At the same time we import a lot.”
(COLOMBO, August 08, 2016)

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