“We actively seek trade and investment partners from China” – Rishad at Kunming Forum

Sri Lanka actively seeks trade and investment partners from its second largest international trade partner, People’s Republic of China. And the Asia Pacific Trade Agreement (APTA) has given Sri Lanka a framework to expand bilateral trade. “There are many opportunities and areas that we can exploit for mutual benefit. As our international investment profile improves, we actively seek trade and investment partners and technology transfers and would welcome investors from Yunnan and from other provinces of China. We invite investors to the sectors of infrastructure, electronics, light engineering, textiles, garments and fashion accessories, rubber,

Minister of Industry and Commerce Rishad Bathiudeen addresses the seventh China – South Asia Business Forum (CSABF) held at the Convention Centre of Kunming City in Yunnan Province, China

computer software, tourism, recreation and leisure projects,” announced Minister of Industry and Commerce Rishad Bathiudeen to the multi-country gathering of the seventh China – South Asia Business Forum (CSABF) held at the Convention Centre of Kunming City in Yunnan Province, China, on 5 June, among calls of ‘21st century belongs to Asia’ reverberated throughout the event.

The event is one of the three events of the day – the other being the South Asian Countries Trade Fair, in which the Export Development Board under Minister Bathiudeen takes part. Apart from South Asian countries, Laos and Vietnam too had their displays. The third parallel event is the China Import Export Fair. Among the South Asian countries taking part in the event, Sri Lanka has the second strongest presence of 100 stalls of 92 Lankan firms. The triple events together have become one of the four top annual events (such as the Canton Fair) in China’s trade calendar. Due to its high prominence in the trillion dollar GDP nation, the Kunming Fair has become the second biggest annual fair in the South West China region.

Among the high profile officials who represented the participating countries at the Forum were Gu Zhaoxi (Vice Governor of the People’s Government of Yunnan Province), Tariq Puri (CEO of Trade Development Authority, Pakistan), Wang Jinzhen (Vice Chairman of China Council for Promotion of International Trade), Tariq Sayeed (Rotatory Chairman of seventh China South Asia Business Forum), Dr. Sahruddin Sahar (Deputy minister of Commerce and Industry, Afghanistan), Topgyal Dorji (President, Bhutan Chamber of Commerce and Industry), Ahmed Mohamed (Minister of Economic Development, Maldives), IM Pandey (Consul General of Consulate General of India, Guangzhou), Laal Mani Joshi (Secretary of Minister for Commerce and Supplies, Nepal), Rishad Bathiudeen (Minister of Industry and Commerce, Sri Lanka), and Makhdoom Amin Fahim (Senior Federal Minister of Pakistan).

Also, representatives from Sri Lankan corporate sector too were present. The forum, themed ‘Building Bridges through Socio Economic Cooperation’ also included meetings between various participating country officials and two parallel sessions on ‘Important breakthroughs in Economic Cooperation between China and South Asia’ and ‘Innovative Ideas for Trade and Investment between China and South Asia’.

Explaining Sri Lanka’s partnership with Kunming, Minister Bathiudeen said: “We have been participating in this fair since 2007 when this was held for the first time in Beijing. We requested China to host this as an annual event and welcomed the proposal to hold the fair in Kunming from 2008. The success of participation at the previous events encouraged Sri Lanka to be the second largest Exhibiter with no less than 100 stalls in this year’s Trade Fair. In fact, I am pleased to announce that Sri Lanka’s participation in Kunming has strengthened considerably from 2009. The total Sri Lankan firms taking part here were only 64 in 2009 but this this year has increased to 92 and similarly, our stalls increased from 63 to 100. With each Kunming session we have gained increasing focus with the realization that our tea, gems & jewellery, handicrafts, coir products, fishery products, fresh fruits, ayurveda products, and coconut products, are sectors with higher potential in this fair.”  

Moderator of the Forum Tariq Puri (CEO of Trade Development Authority, Pakistan), remarked: “The CSABF believes that Regional trade is the key to success in today’s global trade climate. The 21st century belongs to Asia and together, let us all lead in this wave of global trade.”