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Friday, October 15, 2010 - 07.36 GMT |
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UK & Sri Lanka,
partners in prosperity – British DHC |
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The close historical ties between the UK and Sri Lanka make us natural partners in prosperity," said the British Deputy High Commissioner, Mark Gooding addressing the National Chamber of Commerce of Sri Lanka (NCCSL).
Already Sri Lankan exports to the UK are worth $1 billion a year, UK companies provide $300 million in foreign direct investment in Sri Lanka, and over 100 UK affiliated companies operate in Sri Lanka, he said.
The end of nearly thirty years of war in Sri Lanka and the economic recovery in the UK have given the UK and Sri Lanka a historic opportunity to create new business partnerships and further increase two way trade and investment. The British High Commission is committed to supporting this process, and stands ready to assist UK and Sri Lankan companies in building prosperity together, the Deputy High Commissioner added.
Mr Gooding described the UK as “the natural choice” for Sri Lankan companies looking to do business overseas. He highlighted the advantages of doing business in the UK, including its open business environment, its history of sustained growth, its stable and well-regulated business environment – one of the least corrupt in the world – its flexible labour market and the fact that it is a global trading centre and a gateway to the European market.
Mr Gooding announced a number of steps the British Government was taking to promote bilateral trade and investment.
The British High Commission provides extensive market support to British companies wishing to invest in Sri Lanka and Sri Lankan companies wishing to do business in the UK, the British High Commission said in a press release.
The British Government has also just increased its level of export credit cover for UK companies wishing to invest in Sri Lanka from £150 million to £200 million, and is developing a new business express visa programme for companies whose staffs need to travel regularly to the UK.
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