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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2610

Sri Lanka business delegation signs several joint venture agreements with Chinese counterparts

By Quintus Perera - Asian Tribune -

Colombo, 19 March, ( A 60 member high powered private sector trade delegation led by Nawaz Rajabdeen, President, Federation of Chambers of Commerce and Induatry of Sri Lanka went to China along with the recent Presidential entourage. The delegates were highly satisfied with the great success of the tour, as they were able to arrange various joint ventures and export orders of local products. Nawaz RajabdeenNawaz Rajabdeen

He said that this is the first time that a cross section of businessman from all regions participated in such a tour. The delegation included from the entire different district represented by small and medium business houses. They were exposed to the entire gamut of business opportunities in China and the delegation members were content and satisfied as the meetings with various Chinese investors were very successful. The meetings were coordinated by the Chinese Council for promotion of International Trade.

Rajabdeen said that many MOUs were signed by organization in Micro car assembly plant for commercial vehicles for the agricultural sector, Apparel accessories manufacturing unit.

He said that for the first time small & medium sector businessmen from the agricultural sector participated and they negotiated to set up plant for particle board with the paddy husk.

Rajabdeen said that President Mahinda Rajapake was very keen to give more exposure to small and medium sector businessmen for joint venture opportunity.

The Dongfeng Automobile Co Ltd showed keen interest to set up an assembly plant to manufacture micro vehicles for export to the SAARC region, as Sri Lanka would be the hub for exports to take advantage of the Free Trade Agreements. Shanghai Machinery and Equipment Corporation will be setting up a manufacturing unit for tools and other connected equipments.

Jiangling Motors Group had discussion with the leading a Motor Vehicle importer to set up a joint venture investment in Sri Lanka. Beijing Brilliant Gems and Jewelry shown interest in importing Precious Stones for their Jewellery industry. He said that Qingdao XinGben Barrow Ltd has a contract to export different types of carts for the construction industry on CKD and later set up a manufacturing unit.

Large number of small and medium type manufacturing industries showed interest in setting up factories in Sri Lanka to market their product to the SAARC region.

Rajabdeen said that the other very fruitful outcome achieved by this trade delegation is that the agreement to arrive a high powered Chinese Trade Delegation to Colombo, early to attend to the follow up work emanating from the meetings and discussions on joint venture investments with the Chinese Trade Sector with the Local businessmen.

- Asian Tribune -

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