Ceylon Chamber and Beijing Chamber sign MOU to promote bilateral commercial ties

The Ceylon Chamber of Commerce and the Beijing Chamber of International Commerce signed an MOU yesterday to work together to promote trade and commercial ties between the two countries.

Ceylon Chamber of Commerce CEO/Secretary General Mangala P.B. Yapa and Beijing Chamber of International Commerce Deputy Director General Yu Haibo signed the MOU.

It will enable both parties to work together to promote trade and investment by sharing information with regard to trade, technical transfer, economic cooperation and also exchange of important publications.

The primary focus of the MOU, which was signed at the Ceylon Chamber of Commerce will also particularly focus on helping the Small and Medium-sized Enterprises of the two nations.

Speaking during the occasion, Yapa said: “It is time Sri Lanka and China develop a B2B relationship, extending from the present Government to Government relationship.”

He also emphasised on the huge trade gap existing between the two countries, with the trade balance in favour of China.

In response, Haibo said that the Beijing Chamber of International Commerce would help Sri Lankan exporters to enter the Chinese market.

Chinese imports to Sri Lanka during 2014 stand at a massive $ 3.4 billion, while Sri Lankan exports to China stand at $ 173 million.

Ceylon Chamber Assistant Secretary General Cherryl Rodrigo, BCCI Associate Consultant Mark Yuan, Ceylon Chamber Assistant Secretary General and Legal Officer Oshadi Kodisinghe and Ceylon Chamber Management Executive Lakini Dahanayake were present at the meeting.