The Sri Lanka has identified the importance of enhancing economic and trade ties between the UAE and Sri Lanka.

“Sri Lanka has an annual trade of Dh 2.20 bn with the UAE and plans are on to further boost the partnership”, said M.M. Abdul Raheem, Consul General of Sri Lanka – Dubai.

Addressing a section of the UAE based businessmen yesterday (9) Raheem said Sri Lanka has seen a notable rise in the arrival of foreign investors. In 2010 alone 14 per cent of all tourist arrivals in Sri Lanka was for business related activities compared to 8 per cent in 2009.

The country offers a significant growth potential at almost 8.2 per cent per annum, he said. “Our stock markets are considered as one of the safest in Asia during the last 12 to 24 months registering about 3 per cent growth,” he added.

In March next year Sri Lanka plans to organize EXPO 2012, an initiative to promote trade investment and tourism. According to Janaka Rathnayake, Chairman and CEO of Sri Lanka Export Development Board, the EXPO was last held about 17 years ago and is being resurrected as Sri Lanka is moving forward to show the world that it means business.

“We expect significant participation this time from the UAE businessmen. There are opportunities in Sri Lanka and we want to attract the best possible investors to make us of it,” quoting Consul General of Sri Lanka, Emirates Business 24/7, a newspaper published in Dubai in the United Arab Emirates, reported.