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Sri Lanka and Iran have explored avenues for the expansion of trade and economic relations and removal of economic development problems faced by the two countries. Sri Lanka’s Minister of Trade, Commerce, Consumer Affairs and Marketing Development Jeyaraj Fernandopulle met with Iran’s Minister of Commerce Seyed Mas'oud Mir-Kazemi in Teheran, Iran, Saturday November 4th. Iran voiced its enthusiasm for the development and improvement of economic ties with Sri Lanka and called for a logical settlement to the problems relating to the import of Sri Lankan tea to Iran. The need to seriously confront the major problem of tea smuggling to Iran was also discussed. These discussions took place at the meeting of the Iran - Sri Lanka Joint Commission, which plays a crucial role in the development of mutual ties. The Iranian Minister further stated his country's readiness to provide technical and engineering services, establish factories, and construct highways, buildings and power plants in Sri Lanka. He also stressed that Iran enjoys high potentials and capabilities in such areas as agricultural processing industries, auto-manufacturing, production and processing of building materials, food industries, medical instruments and equipment and pharmaceutical industries. Sri Lanka’s minister of Industrial Development Kumara Welgama stressed the need for further development of industrial cooperation between the Islamic Republic and his country. “Iran enjoys good technological potentials and we call for Iran’s cooperation in supplying Sri Lanka with machineries and equipments, helping us in the agricultural sector, building cement production plants, auto industries, iron exploration and extraction and building steel mill,” Minister Welgama said in conclusion.
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