Sri Lanka EDB seeks agreement with China’s Yunnan province

EconomyNext – Sri Lanka’s export promotion agency is to strike an agreement with China’s Yunnan province seeking to increase exports from the island, especially of high-value products, a statement said.

The Export Development Board said there was strong demand for Sri Lankan products from the province and during the annual Kunming international expo which also has a China – South Asia Exposition (CSAE) for the region’s exporters.

EDB Director General Sujatha Weerakoone a bigger exporter delegation will be at this year’s CSAE fair and Sri Lankan presence will expand from exports and trade to tourism and investment as well.

The Yunnan Provincial Government wants to enter in to a Corporate Agreement with the EDB, which enhances bilateral cooperation, she said during a meeting with a trade delegation from Yunnan Province.

The June Kunming Fair has become one of the four top annual events in China’s trade calendar.

Bilateral trade between China and Sri Lanka has topped three billion US dollars with China becoming Sri Lanka’s second largest supplier, accounting for 17 percent of Sri Lanka’s total imports.

China was the 18th largest export destination for Sri Lanka contributing 1.2 percent of total export earnings in 2013.

 

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