Sri Lanka, China trade chambers eye mutual benefits for SMEs

Sep 21, 2015 (LBO) – Sri Lanka’s business chamber on Monday signed a memorandum of understanding with their Beijing counterpart to work together to promote trade and commercial ties between the two countries.





The MOU looks forward to share information with regard to trade, technical transfer, and economic cooperation, the Ceylon Chamber said in a statement.
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Its primary focus would be helping the Small and Medium sized enterprises of the two nations. Sri Lanka and China has a large trade gap with the trade balance is in favor of China.



Chinese imports to Sri Lanka in 2014 stands at a massive 3.

4 billion US dollars, while Sri Lankan exports to China stands at 173 million US dollars.



Speaking at the event Yu Haibo, Deputy Director General of the Beijing Chamber of International Commerce said they will help Sri Lankan exporters to enter the Chinese market.

Head of Ceylon Chamber, Mangala Yapa said it is time to develop Business to Business relationship, extending from the present government to government relationship.