Sri Lanka's exports broke fresh ground as a pioneering MoU between exports facilitator EDB and China was entered into in Colombo on November 20.
Export Development Board (EDB) CEO and Chairman Bandula Egodage said: “This is the reciprocal event for the visit of entrepreneur delegation led by EDB to Guangdong. We thank you for giving us the opportunity to access Guangdong. The EDB team has played a considerable work to coordinate this MoU. MoU is a commitment that shows the interest of both parties to engage in bilateral trade.”
With the commencement of FTA talks, bilateral relations have further deepened. During President Xi Jinping’s recent visit to Sri Lanka this September, he and President Mahinda Rajapaksa reached consensus to deepen the strategic partnership and joint construction of 21 Century Maritime Silk Road. Now the countries have officially started the bilateral FTA negotiations, we believe that the bilateral cooperation would be ‘further deepened’ in future,” said CCPIT Guangdong Sub Committee Vice President Zhang Hua in Colombo. Hua was addressing the first MoU signing event between EDB and China Council for the Promotion of International Trade of Guangdong (CCPIT-Guangdon) held at the EDB, Colombo.
Representatives from 19 leading Guangdong firms and government enterprises-including Guangdong Guangye Asset Management (mineral resources), Guangzou Dajunmei Electric (consumer electronics), Landrent Investment Ltd (enterprise management), Qinyuang Takson (tea), Qinyuang Silver Field (tin and scrap metal processing), Qinyuang Shengli Copper Materials (copper processing), and First Rare Materials Co (producer of high purity metals including selenium, tellurium, cadmium)-were present for B2Bs with more than 20 Lankan firms such as D Samson Industries, Akbar Bros, Mt Lavinia Hotel, Robert Agencies, Abans PLC, Oviklo Int’l, and Agility Logistics.
Guangdong (formerly Canton) is China’s largest provincial economy producing more than 10% of China’s GDP, with 104 mn population and hosting some of the largest global multinationals such as Shell (the Petrochemical giant) and Du Pont (chemicals).
Guangdong also hosts China’s largest international annual expo, the ‘Canton Fair’.
EDB Director General Sujatha Weerakoon led the Sri Lanka trade delegation to 11th China International Small and Medium Enterprises Fair held in Guangzhou and during a meeting with the CCPIT Guangdong Province she has invited CCPIT to organize a delegation from Guangdong, China to Sri Lanka.