Friday Nov 15, 2024
Friday Nov 15, 2024
Tuesday, 10 November 2015 00:05 - - {{hitsCtrl.values.hits}}
As Sino-Lanka YoY bilateral trade surged by 16%, the second-in-command of China’s most prosperous province is slated to meet Minister of Industry and Commerce Rishad Bathiudeen and his officials for Guangdong-Sri Lanka trade talks today (10) in Colombo.
“We extend a warm welcome to Zhao Yufang’s delegation. Last year, our bilateral trade with China has increased by a strong 16%,” stressed Bathiudeen.
Bathiudeen, currently away from Sri Lanka, was responding to updates by his officials on the talks scheduled for this evening.
Guangdong Province People’s Government Vice-Governor Madam Zhao Yufang is now in town leading a high-powered official Chinese delegation and is scheduled to return to China tomorrow. Among Yufang’s 10-member delegation to Colombo are Wu Jung (Deputy Director General, Guangdong Commerce Department), Su Caifang (Deputy DG, Guangdong Foreign Affairs Office), Zhang Zhenlin (Deputy DG, Guangdong Tourism), and Huang Guanqiu (Dongguan Commerce Burau).
Zhanjiang born Yufang was once a Director of the Land Resource Department of the People’s Government of Guangdong Province and she has been Guangdong Vice-Governor since 2011.
“The Ministry’s Department of Commerce and I extend a warm welcome to Zhao Yufang’s delegation. Last year, our bilateral trade with China increased by a strong 16%. We look forward to great opportunities for both sides in Guangdong, which is China’s top province in terms of GDP,” stressed Bathiudeen.
Guangdong is China’s topmost sub-regional economy and the number one provincial GDP contributor in Y2013 & ’14, producing 10% of its GDP. In Y’14, Guangdong’s GDP stood at $1 trillion, with a YoY growth of 7.8%.
Last November, China Council for the Promotion of International Trade of Guangdong (CCPIT-Guangdong) and Sri Lanka Export Development Board sealed the first MoU between them in Colombo as 19 leading firms and Government enterprises of Guangdong that arrived in Colombo, 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 (high purity metals including selenium, tellurium, cadmium), watched the event with keen interest.
Bilateral trade between China and Sri Lanka increased by 16% to $3.5 b in 2014-of which 95% are imports from China.
