Call for revival of Sri Lanka-Iran trade

Wednesday, 2 April 2014 00:01 - - {{hitsCtrl.values.hits}}

Our trade talks with some global powers progressing well: Iran’s Khani
Bilateral trade at $ 216.47 m
Right climate for new trade: Iran’s Khani

It is time for the revival of Iran-Sri Lanka trade-back to its original volumes. “As trade restrictions faced by Iran are being eased progressively, we believe it is now the correct time to restart our bilateral trade,” said the Iranian Embassy Charge d’Affairs Hussain Ebrahim Khani yesterday. The new Iranian Charge d’ Affairs Khani was addressing Minister of Industry and Commerce Rishad Bathiudeen during a courtesy call at the EDB, Colombo.

According to the Department of Commerce of Sri Lanka, bilateral trade between the two countries showed a positive trend from 2002 to 2008, and topped $ 1,619.42 million in 2011, after which it settled at $ 216.47 million in 2013. Despite the declining trade total, for the first time, in 2013, bilateral trade turned in favour of Sri Lanka. In 2013, Sri Lanka’s leading exports to Iran were tea, coconuts, cashew nuts, coconut fibre, lead oxides and apparel while main imports from Iran were plastics, electrical transformers, insulated wire, cables, and bulldozers.

“It is important that you are leading Sri Lanka-Iran trade revival by activating the Joint Economic Commission,” said Khani. “We are pleased that you are shouldering the great responsibility of Iran-Sri Lanka bilateral trade cooperation activities and we praise your efforts to enhance it. As trade restrictions faced by Iran are now being eased progressively, we believe it is the correct time to revive our bilateral trade with Sri Lanka. We realised that the new climate in Iran can help boost bilateral cooperation with Sri Lanka. We at our side are ever ready to cooperate and help in your trade needs at any time. It is time that we both iron out existing trade issues and begin our trade promotion efforts with each other. Our trade restrictions related talks with some global powers are also progressing well.” “Sri Lanka extends its warm welcome to you,” said Minister Bathiudeen. “I am pleased that your trade restriction-related talks with some global powers are progressing well. I, together with my brethren in Sri Lanka will pray towards the easing of these restrictions faced by your country. We are passionate about your country and people. My officials and I are also ready to extend our fullest assistance to enhance bilateral cooperation with you, and with the guidance of relevant government officials and agencies, are ready to positively view our bilateral efforts. It is time that we jointly work to regain our strong trade levels from the current levels of $ 216.47 m.”