Sri Lanka wraps up latest trade initiative with China

Sino-Sri Lanka bilateral trade will get yet another fresh boost as the latest international airport in China’s Southern and South-Western economic hub starts operations this month.

“I extend my best wishes to the People’s Government of Yunnan’s new Changshui International Airport. This initiative will strengthen Kunming’s $ 8 b international trade with South Asia and our exports to Kunming,” said Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka.

Minister Bathiudeen who led Sri Lanka’s strong trade and official delegation to the twin events of South Asian Countries Trade Fair and 20th China Import and Export Fair held at the Kunming International Exhibition and Convention Centre, Kunming City, returned to Colombo this weekend having concluded a successful trade tour of Sri Lanka’s biggest overseas export promotion effort to Yunnan Province, which is billed as the next emerging economic powerhouse inside China.

During Minister Bathiudeen’s official tour, People’s Government of Yunnan, China announced on 5 June that it would review its import quarantine rules, in response to the official submission by Minister Bathiudeen. If effected, the changes are expected to benefit not only Sri Lankan exporters of perishable commodities, but also perishable exporters of South and South East Asian region.

“Kunming fair has become a staple in our exports tradition and a great stepping stone towards $ 20 b exports by 2020 as per the development vision of President Mahinda Rajapaksa. I am given to understand that the new Kunming airport is expected to lead Kunming to the list of top five airports in People’s Republic of China by placing it as the fourth largest airport in China. I extend my best wishes to the People’s Government of Yunnan’s new Changshui International Airport. This initiative will strengthen Kunming’s $ 8 b international trade with South Asia and our exports to Kunmingm,” Minister Bathiudeen said.

Lankan travellers, trade and business persons to Kunming from next month will touch down to the bustling city’s brand new international airport – Changshui Airport (CA). The new Changshui International Airport is part of this development thrust and is set to open on 28 June.

The new airport can handle more than 300,000 flights per year. The People’s Government of Yunnan Province plans that this 38 m passenger and 950000 tonnes cargo capacity built in airport will link Kunming to international trade to become the fourth largest economic and commercial hub in China.

The new airport is expected to lead Kunming to the list of top five airports in People’s Republic of China.  The current international airport in Kunming, Wujiaba International Airport, is scheduled to handle the domestic traffic once CA commences.

Kunming, the largest city in Southwest China with a GDP exceeding $ 32 Bn, is home to a populace of six million, also houses Pepsi and Microsoft manufacturing plants. The Kunming National High Tech Industry Development Zone, one of the highest ranking industrial zones in People’s Republic of China in terms of revenue generation, and accounts for 80% of high and new technology revenues of entire Yunnan, considered as the emerging economic powerhouse of China.

Called the ‘City of Eternal Spring’ due to its year round stable weather, Kunming is now being rapidly upgraded by the People’s Government of Yunnan Province to make the economic and commercial hub for Southern China region.