|
|
 |
 |
 |
| Tuesday, 24 February 2004 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Over 10% increase in trade between Lanka and France by Shirajiv Sirimane Trade between Sri Lanka and France has improved by more than 10 percent, said the Economic and Commercial Counsellor, French Trade Commission, Sri Lanka Hubert Colaris. In an interview with the Daily News he said that the value of business for last year between the two countries was Euro 240 million. The trade balance was in favour of Sri Lanka with Sri Lankan exports to the value of Euro 130 million. The figure was Euro 93 million at the end of 2002. He said that the major exports from Sri Lanka to France are garments, tea and rubber based products, Fish and Sea food, fruits, spices, coffee, knitted or crocheted apparel and accessories, woven apparel and vegetables. However there is a slight decrease in the apparel sector exports mainly due to China's intervention. The main imports are telecommunication, pharmaceutical, electrical equipment, cereals, vehicles and wheat from last year. Two trade delegations representing mainly the small and medium sector will be in Sri Lanka in May and June. They are keen to find partners and set up enterprises in Sri Lanka mainly in garments, gems and jewellery, handicrafts, rubber and apparel related industries. Investors in the hotel sector are looking forward to a more stable political climate to make their investments. One of the main areas the investors would be concentrating is India. It is more cost effective to manufacture in Sri Lanka and market to India and the Sub Continent since the concessions offered by the Board of Investments (BOI) are very attractive. Sub contracting is another area the visiting delegations would be looking at. An entrepreneur from France has already tied up with MAS Holdings to set up a US $ 40 million Lace manufacturing plant in Sri Lanka. He said with the setting up of the Sri Lanka-France Business Centre (La Maison de Ceylan) in France there would be more business opportunities for both countries. He predicted a 15 percent increase of trade between the two countries by the end of this year. The Founder Chairman of the Sri Lanka-France Business Centre (La Maison de Ceylan) Thierry Gauthier said that already six Sri Lankan companies are showcasing their products in France through their institution. The business centre had offered them office space in France and would market their products and liaise with service providers and partners in France. He said that there is a growing market in France for Sri Lankan blue sapphires and semi precious stones and gems and this would be promoted through television mainly to housewives. There is an estimated television audience of over one million in France during the day time. He said that they have already done a television program of Sri Lanka highlighting the gem industry and have plans of setting up a factory in Sri Lanka. Recording a GDP growth rate of 1.2% in the first quarter of 2003 and a trade surplus of 27.3 billion dollars in 2002, France is the fourth largest economic power in the world. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
