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Thursday, April 24, 2008 - 05.20 GMT |
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FM calls for increased economic cooperation with
Zhejiang |
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Foreign Minister Rohitha Bogollagama has sought
increased investment from, and enhanced market
access for Sri Lankan exports to the Zhejiang
Province in China, a Foreign Ministry statement
said. He made this call during a meeting with a high
level delegation led by Zhong Shan, Vice Governor of
the Zhejiang Province of China, currently visiting
the island on an invitation of the Minister.
The visiting Vice Governor briefed the Foreign
Minister on recent developments in his Province, in
particular on the rapid economic progress that has
been achieved in recent years. Zhejiang with a
population of around 47 million is located on the
Southeast coast of China with Hangzhou as its
provincial capital. The Vice Governor noted that the
Zhejiang Province accounts for 10 percent of the GNP
of China and that last year its GDP amounted to US $
250 billion. This figure is expected to reach US $
300 billion this year. He further said that their
annual import bill amounts to US $ 60 billion.
Minister Bogollagama recalling his recent visit to
China with President Mahinda Rajapaksa to attend the
Boao Forum, said that the Chinese President, Hu
Jintao had responded favourably to the President’s
request that China lowers its tariffs, to facilitate
greater market access for Sri Lankan exports. The
Minister said that Sri Lanka’s imports from China
currently standard at about US $ 1.3 billion, while
her exports to China were in the region of US$ 30
million.
Minister Bogollagama briefed the Chinese delegation
on the attractive incentives and facilities
available for foreign investors in Sri Lanka, in
particular, the Free Trade Zones, which are equipped
with the necessary infrastructure for foreign
companies to establish their enterprises. He also
pointed out that Chinese investors could avail
themselves of Sri Lanka’s Free Trade Agreements with
India and Pakistan in order to gain access for their
exports from Sri Lanka to these important markets.
The Foreign Minister highlighted the historical and
political importance of Sri Jayawardenepura Kotte as
Sri Lanka’s administrative capital and the vital
role of Zhejiang Province in China’s rapid economic
development. Vice Governor, Zhong Shan readily
agreed to support the Minister’s request that the
City of Sri Jayawardenapura Kotte be linked to a
sister city in the Zhejiang Province, in order to
enhance greater people to people contact.
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