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Sri Lanka’s EDB in talks with China’s Yunnan Province for a corporate agreement
16 Jan, 2015 11:59:41
Jan 16, 2015 (LBO) – Sri Lanka’s Export Development Board (EDB) in talks with China's Yunnan province for a corporate agreement to increase exports from the island, especially of high-value products, EDB said in a statement.
“We are currently preparing one of the strongest ever delegations to this year’s CSAE fair and we also positively view Yunnan Provincial Government’s interest in entering in to a Corporate Agreement with EDB, which enhances bilateral cooperation greatly,” Sujatha Weerakoone, Director General of EDB was quoted in the statement.

“This year too EDB is planning a very strong Lankan team to Kunming, with 100 display booths at the fair. There is strong demand for Kunming fair from our exporters. And this year, Lankan presence will expand from exports, trade to tourism and investment as well. We also secured special presentation slots at the Kunming Business and Investment Forum.”

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

“The pending Sri Lanka-China FTA will be very big news for Chinese buyers and media,” Li Jiming , Deputy Secretary General of Yunnan Provincial Government and Director General of Yunnan International Exposition Bureau was quoted.

“According to our 2013 statistics, for every dollar we spend on Sri Lankan market, we earn back 18! But still China insists imports from its trading partners as well.

“The Yunnan Provincial Government therefore is now considering the first ever Corporate Agreement to enter with Sri Lanka’s EDB, for medium to longer term cooperation,”

“There are many new product sectors being introduced for the first time in CSAE 2015, which is really international exhibition and not a trade fair. We like to see more exports from Sri Lanka, specially high value products. ”

As for exports, in 2013, China became Sri Lanka’s second largest supplier with three billion dollar imports accounting for 17 percent of Sri Lanka’s total imports.

Bilateral trade total with China in 2013 stood at 3,081 million US dollars.

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