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Asian Tribune is published by E-LANKA MEDIA(PVT)Ltd. Vol. 20 No. 111

Sri Lanka – Kerala business chambers e enters MOU to boost trade mutually

By Quintus Perera – Asian Tribune

Colombo, 24 April, (Asiantribune.com): A communiqué from the Federation of Chambers of Commerce and Industry of Sri Lanka indicted that a Memorandum of Understanding (MOU) was signed in Kerala between the Kerala Chamber of Commerce and Industry, and the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) to promote and facilitate effective cooperation in trade, economic and industrial activities between companies, private business organizations and members of both parties.

A delegation from FCCISL led by its President, Nawaz Rajabdeen has traveled for this purpose and the delegation has also visited countries such as Malaysia, UAE, Saudi Arabia and China to bring in foreign business to Sri Lanka. Rajabdeen told the Asian Tribune that FCCISL will send a delegation to West Germany in July to attend a global business meet, he said.

The communiqué stated that with a view to wooing investors from Kerala, Sri Lanka has offered several avenues. The MOU aims to facilitate and expand business network, promote joint economic projects between businessmen and private business organizations in both countries.

E.S. Jose, President of the Kerala Chamber, has indicated that the MOU is focused on international business in the last couple of years to promote the State of Kerala.

The surge in industrial and economic activities in Kerala would provide an opportunity for businessmen for more trade transactions in future.

Nawaz Rajabdeen, President of the FCCISL, has indicted that the Free Trade Agreement between India and Sri Lanka would definitely expand the domestic and bilateral trade of both the countries.
He has pointed out that Indians tourists are highest in number surpassing Germans and this was made possible due to road shows in several Indian cities. Nawaz Rajabdeen President FCCISL and E.S.Jose President KCCI (Kerala Chamber of Commerce & Industry exchanging the MOU.Also in the Picture are Dr. Sabestian Paul, Member of Parliament and Prof. Mercy Williams, Mayor of CochinNawaz Rajabdeen President FCCISL and E.S.Jose President KCCI (Kerala Chamber of Commerce & Industry exchanging the MOU.Also in the Picture are Dr. Sabestian Paul, Member of Parliament and Prof. Mercy Williams, Mayor of Cochin

He has further indicated that a lot of efforts have to be made to attract tourists from Kerala as both the regions have the same geographic and climatic conditions. Both the chambers can play a major role to encourage tourist promotion in the regions.

Macky Hashim, Former President of SAARC Chamber of Commerce and Industry who was present at the signing of the MOU has indicated that various conventions with European Union has helped Sri Lanka to achieve GS Plus status that will offer various concessions and zero duty exemptions. Business units can use this opportunity to re-export their products from Sri Lanka to various countries.

Moreover, the Sri Lankan Port is the only one in the entire region, which allows 21-day free stay for transshipment containers meant for exports, he has indicated, adding that therefore there are lots of opportunities for businessmen in Sri Lanka.

- Asian Tribune -

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