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“With your assistance, we want to prepare fruitful projects with Sri Lanka. We propose a Joint Economic Commission with Sri Lanka as early as July 2014 to be held in Colombo, if possible. We also can formulate the first Belarusian business delegation to Colombo during this event as per your interest,” said the New Delhi based Ambassador of Belarus to Sri Lanka Vitaly Prima on 22 May in Colombo.
Ambassador Prima was addressing the official Sri Lankan team led by Minister of Industry and Commerce Rishad Bathiudeen at the Ministry of Industry and Commerce. Taking part in the discussion along with Minister Bathiudeen were Director General of Commerce R.D.S. Kumararatne, EDB DG Sujatha Weerakoone, officials of the Department of Commerce and the EDB, as well as representatives from the Belarusian consul in Sri Lanka.
Belarus is an industry-driven economy with a GDP equal to Sri Lanka. For Sri Lanka, Belarus remains a virgin market. The first high level Belarusian team to arrive in Sri Lanka in recent times met Minister Bathiudeen and his officials in Colombo in August 2013.
According to the Department of Commerce, bilateral trade between both countries stood at $ 14.2 million in 2013 and bilateral trade volumes between Sri Lanka and Belarus more than doubled from its $ 7 million levels in 2010. Almost 90% of Sri Lanka’s exports have been tea. Other export items are pneumatic tyres, articles for packing of goods and food preparations. Fertilisers (Potassium Chloride) has been the major import item from Belarus contributing to more than 95% of total imports in from Belarus in 2013.
Belarus is the world’s third largest potash supplier after Canada and Braziland one of the key dairy economies in the world well-known for its cheese. The Russia-Kazakstan-Belarus Customs Union is reportedly keen for its expansion, with new regional members.
Ambassador Prima said: “With your assistance, we want to prepare fruitful projects with Sri Lanka. We propose a Joint Economic Commission (JEC) with Sri Lanka as early as July 2014 to be held in Colombo, if possible. I am pleased to hand over our proposal to you today in this regard. We believe the proposed JEC could be wide ranging-involving such aspects as trade, investment, education, agriculture and even science and technology. Closer ties with our country could open a 170 million strong Eurasian market of Russia-Kazakstan-Belarus Customs Union for Sri Lanka. We are also looking for more apparel and leather imports from Sri Lanka since our apparel production levels are low. We understand you have a growing leather export industry here and we are also looking for upper shoe patterns/parts in big volumes for our shoe manufacturers from you. We continue to buy Sri Lankan made solid rubber tyres. We also like your fish and are keen on bigger imports of Sri Lankan seafood.”
Responding to the Ambassador Minister Bathiudeen said: “Due to President Mahinda Rajapaksa’s new initiatives, Lanka-Belarus cooperation has been strengthened in recent times. In this background, we welcome your proposals for Joint Economic Cooperation and I also suggest B2B visits to kick-off business and investment cooperation with Sri Lanka. Depending on the concurrence other line Ministries, July is a good time to start. Our current bilateral trade levels at $ 14 million shows the huge unrealised trade potentials. We also invite Belarus investors to partner with us in our Government’s proposed 60 investment projects as well as in our apparel, leather and seafood sectors. I propose the Department of Commerce under my Ministry to be the focal point in renewal of our bilateral trade efforts.
“We understand that Belarus is a dairy leader in the world. Therefore we welcome your support to our dairy sector. Stronger powdered milk manufacturing capacity for Sri Lanka is the need of the hour and can help us to cut down on our huge annual milk powder import bill of $ 1.7 billion. I also invite a Belarus Business delegation to Colombo.”
“Being one of world’s leading dairy nations, we can support developing Sri Lanka’s dairy sector-and not only on a single aspect such as powdered milk production but in its entire value chain. We shall favourably consider your request in this regard. As per your interest we would also formulate the first Belarus Business delegation to Colombo during July,” said Ambassador Prima.
