Faiszer holds talks with India’s Commerce and Industry Minster

Friday, 7 November 2014 00:01 - - {{hitsCtrl.values.hits}}

Investment Promotion Deputy Minister Faiszer Musthapha and Indian Minister of Commerce and Industry (Independent charge) Nirmala Sitharaman have discussed relations of cooperation between the two friendly countries, especially in the fields of economic and trade relations and ways to develop them at a meeting held at Minister Sitharaman’s office in New Delhi, India on Wednesday (5). During their meeting, the two Ministers discussed the potential of increasing trade exchange and promoting the flow of investment between them by exploring the economic sectors, and addressing obstacles and challenges that affect this trend. Musthapha was on a two-day visit to India to take part in the India Economic Summit organised by the World Economic Forum. The meeting focused on the possible avenues for further improvement of investment and trade between the two countries with particular reference to the India-Sri Lanka Free Trade Agreement (FTA) as part of efforts to support and strengthen bilateral relations. Sitharaman referred to the on-going discussions between the two sides with regard to auto component industry, real estate, pharmacy sector, hospitality industry and sugar production, among other things. Musthapha highlighted the priority given by Sri Lanka in promoting the SME sector and said that Sri Lanka could benefit from India’s experience in this regard. It was also agreed that facilitation of exchanges between entrepreneurs and investors of the two countries, including through trade and investment symposiums could be immensely constructive. Musthapha and Sitharaman underscored the importance of the bilateral discussions for the two countries, their role in opening new areas of joint cooperation, and encouraging the creation of investment partnerships between them while motivating investors, companies and businessmen and the business community in general to invest in the two countries and in all major sectors for both. Musthapha invited Sitharaman to visit Sri Lanka at a mutually-convenient date. The meeting was attended by Deputy High Commissioner of Sri Lanka W.M.R.K. Lenagala and several senior officials from India.