Sri Lanka, Australia business chamber launched to increase trade

EconomyNext – Sri Lanka and Australia have set up a Sri Lanka-Australia Chamber of Commerce (SLACC) aimed at increasing trade between the two countries.

The SLACC launch was at the New South Wales Business Chamber Head Office in Sydney, Australia, a statement said.

The two-way merchandise trade between the two countries amounted to 389 million Australian dollars in 2013/14.

Major Sri Lankan exports to Australia include apparel, tea, rubber and clay construction materials while dairy, vegetables, paper and paperboard, and animal feed make up the major Australian exports to Sri Lanka.

Sri Lanka is Australia’s largest importer of lentils, importing around 70 percent of Australia’s lentils.

Sri Lanka is also the 8th largest source of students pursuing a tertiary education in Australia.

The SLACC will provide practical and on-the-ground support for businesspeople who are entering or exploring the two markets. 

(Colombo/July 08, 2015)

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