Bilateral trade between Sri Lanka and Indonesia is expected to increase up to US$ 1 billion by 2015. This could be achieved through the cooperation of the business community of Sri Lanka and Indonesia. Now the total volume of trade is US$ 450 million, said President, Sri Lanka-Indonesia Business Council (SLIBC) Jatinder Biala.
The Council's objective is to promote trade, services and business between Sri Lanka and Indonesia, particularly exports from Sri Lanka. In 2011 there was a significant growth in bilateral trade activities; exports to Indonesia have grown by 25 percent in the year and at the same time imports from Indonesia to Sri Lanka have also increased by 62 percent," Biala told at the Annual General Meeting of Sri Lanka- Indonesia Business Council.
Tourist arrivals to Sri Lanka have also increased by 31 percent in 2011. This indicates that Indonesia has become one of the biggest trading partners of Sri Lanka and the SLIBC is very pleased to be a part of that growing relationship, he said.
Although the expected growth rate in other fast developing Asian giants, China and India are lower than expected, Indonesia has managed to continuously maintain the expected growth, he said.
Indonesian Ambassador Harimawan Suyitno said that his is a large country with vast natural resources still untapped. In addition Sri Lanka and Indonesia share a plenty of similarities in their culture and climatic conditions, he added.
SLIBC functions under the Ceylon Chamber of Commerce.