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Wednesday, 14 March 2012 00:05 - - {{hitsCtrl.values.hits}}
Sri Lanka is keen to increase tea exports to Jordon after the latter expressed interest in increasing trade ties, a statement from the Industry and Commerce Ministry said yesterday.
“We are thirsty for more and more Ceylon Tea. We can’t get enough of it and we look for increased tea imports from Sri Lanka,” revealed Jordan’s Ambassador to Sri Lanka Mohamad Sharari El-Bakheit El- Fayez during a meeting with Industry and Commerce Minister Rishad Bathiudeen.
According the Department of Commerce of Sri Lanka, in 2011 Sri Lanka’s total trade with Jordan stood at $ 40.7 million while imports were valued at only $ 7.07 million. Sri Lanka tea exports to Jordan which stood at US$ 22.27 million in 2006 grew threefold to $ 63.28 million in 2010. Jordan’s domestic consumption of tea is approximately 5,500 MT. Sri Lanka is the largest supplier of tea to Jordan with an 84% share followed by Saudi Arabia and Egypt.
In 2010, Sri Lanka’s tea exports to Jordan rose by 31.4% to 17,620 MT. Jordan is also the fourth largest buyer of Pure Ceylon Tea in ‘tea bag’ form.
As Jordanian demand for Ceylon Tea has increased, the bulk of Sri Lanka’s tea exports to Jordan show an upward trend. Among the Sri Lankan private sector exporters, Akbar Brothers Ltd. leads the tea exports to Jordan. ‘Alghazaleen Tea’ is a brand of tea produced by Akbar Brothers sold widely in the Jordanian markets.
Bathiudeen had expressed keen interest in supplying the demand from Jordan. The duo also discussed ways to boost bilateral trade and both parties agreed that there is huge untapped trade potential between the two countries. “Our bilateral trade around $ 70 million is on the upward trend, but still below our expectations,” both agreed.
Sri Lanka and Jordan signed a new bilateral Trade and Economic Cooperation Agreement in May 2007, replacing the trade agreement concluded in 1965. Among other Sri Lankan exports to Jordan are electrical transformers, static converters, sewing thread, coconuts, pepper, woven fabrics of cotton and cinnamon.
Maliban Textiles Pvt. Ltd. operates a manufacturing plant in Jordan.
“We have scheduled Sri Lanka Expo 2012 at the end of this month in Colombo where almost 1,000 international buyers will be participating. We invite Jordan business and investment delegations too for this mega export show,” Minister Bathiudeen said.
