Sri Lanka, Qatar discuss greater bilateral ties

• ‘Calling for bigger trade, new investments’: Rishad     
• Sri Lanka’s exports to Qatar peaks in 2014!

Minister of Industry and Commerce Rishad Bathiudeen (left) in discussion with Qatari Foreign Affairs Assistant Minister Mohamed bin Abdullah Al Rumaihi at Qatar Foreign Ministry on 8 November

As YoY bilateral trade surged and Sri Lanka’s exports to the world’s largest per capita economy hit a new high, both Qatar and Sri Lanka jointly stressed the need to boost trade further.

The importance of pushing bilateral trade to new levels was jointly stressed when Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen made a courtesy call on Qatari Foreign Affairs Assistant Minister Mohamed bin Abdullah Al Rumaihi at the Qatar Foreign Ministry, Doha on 8 November.

According to the World Bank, in 2014 oil and gas rich Qatar was world’s highest per capita GDP economy with a per capita of $ 97,518 – standing even above Norway!

During the discussions, both Ministers agreed that despite bilateral trade surge by 18% to $ 78 million in 2014 and Sri Lanka’s exports to Qatar recording the highest levels last year, there are yet unrealised trade potentials between both countries and it is time to broaden trade to next levels. Minister Bathiudeen also welcomed investors from Qatar to Sri Lanka.

According to the Department of Commerce of Sri Lanka, Sri Lanka’s exports to Qatar recorded the highest level of $ 14.39 million in 2014. YoY bilateral trade between the two countries that stood at $ 66 million in 2013 surged by 18% to $ 78 million in 2014. Bananas and plantains was the main export to Qatar from Sri Lanka, claiming 31% of the total exports to Qatar in 2014.