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Call to promote trade between Sri Lanka, Bahrain
Friday, 31 July 2009 - 10:04 AM SL Time
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Bahrain s Prime Minister, Khalifa Bin Salman Al-Khalifa had said many business opportunities have been created in Sri Lanka, especially in the Northern and the Eastern provinces with the dawn of peace and this is the best time to develop commercial transactions between Sri Lanka and Bahrain, said Minister of Export Promotion and International and Acting Minister of Posts and Telecommunication, G.L Peries at a media briefing on Tuesday.
Three MoUs were signed between the two countries targeting tourism, trade and investment industries. It was a necessity to form a Joint Business Council to create easy access and a trouble-free business environment between both countries.
We are happy with the visit of the Bahrain delegation and we could set up the Joint Business Council. We are planning to hold the first council meeting in December this year, said the President, Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) Kosala Wickramanayake.
We believe this would be a great opportunity to develop business opportunities for both countries. The Joint Business Council represents ten members from each country. The setting up of the business council would reveal the potential sectors in both countries, he said.
Bahrain is the only country which has a Free Trade Agreement (FTA) with USA. Therefore, it would be a good opportunity for Sri Lanka to establish an international destination in Bahrain to export products and services to the Middle East and North Africa (MENA). They mainly target garments, porcelain, gem and jewellery and fisheries industries in Sri Lanka, Wickramanayake said.
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