Sri Lanka to set up joint trade commission with Russia
Saturday, 20 September 2014 00:07
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Cabinet has given its approval to establish a joint commission with the Russian Federation to enhance bilateral trade ties.
Meeting on Wednesday, the Cabinet approved a proposal made by the Ministry of Industry and Commerce Rishad Bathiudeen to enter into an agreement on establishment of the ‘Inter-governmental Commission on Trade, Economic, Scientific and Technical Cooperation’ with Russia to enhance cooperation between the two countries in those fields.
According to the Government, the bilateral trade between Sri Lanka and Russia has been increasing over the years. Sri Lanka’s exports to Russia have increased from $ 11.6 million in 2001 to $ 279.91 million in 2013 while Sri Lanka’s imports from Russia have increased from $ 3.7 million to $ 145.85 million during the same period.
