Expo 2012 is a viable platform for UAE to identify the export product portfolio of Sri Lanka. In fact, we did not know that Sri Lanka has such a huge export portfolio until today, said Rashid Al Telaji, Director of Government Communications Department, Ministry of Foreign Trade of UAE.
Al Telaji was expressing his sentiments to Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka on 28 March during a courtesy call Minister Bathiudeen on the side-lines of Expo 2012 at the Ministry of Industry and Commerce, Colombo.
“We are surprised by your vast export portfolio and we gained new awareness on Sri Lanka. Having seen your portfolio, we are now keen to see potential possibilities of more trade with Sri Lanka. I shall be conveying more businesses and corporates in UAE of Sri Lanka’s trade potentials” Al Telaji told Minister Bathiudeen.
Minister Bathiudeen said Expo 2012 is our showcase to the world on exports, investments and also tourism. I believe with Expo 2012, we can start further business to business contacts."
UAE is one of Sri Lanka’s key trading partners among the Gulf Economies. Though the trade patterns between both countries have been irregular, there is an increase in trade especially from 2009 onward.
UAE is the second largest Arab economy and the fourth largest oil exporter in the world. UAE growth is 4% for 2011 and this growth will be powered by new technologies. UAE’s capital markets including its stock exchange has grown rapidly in a short period in comparison to equity markets of other Gulf economies.