Sri Lanka opens trade centre in Chennai

The Sri Lanka Export Development Board (SLEDB) has setup a trade centre in Chennai at a cost of Rs 1.7 crore to showcase Sri Lankan industry and commerce in India.

In a press statement, Ratna Sivaratnam, chairman, SLEDB, said "The trade centre is expected to be a permanent gateway facilitating trade between Sri Lanka and India. The trade centre will be an economical and efficient alternative to road shows and promotional activities. For a country like Sri Lanka this is an opportunity to leapfrog into the huge Indian market for products and services."

Sivaratnam said since a Sri Lankan state-owned organisation had handled the entire project, it helped cut across many formalities which invovled coordinating with four Indian government ministries.

The trade centre would display products like apparel, artificial flowers, confectioneries, footware and leather products, gems and jewellery, herbal products, light engineering products, porcelain, tableware, tea and transpotation.

"We have plans of setting up trade centres in Mumbai, New Delhi and Hyderabad depending upon the success of the trade centre in Chennai," he said.

The trade centre will seek partnerships and trade alliances with businesses interested in Sri Lankan imports. Sivaratnam said in addition to tariff reductions on several product items offered through the Indo-Sri Lanka free trade agreement, Indian business houses can take advantage of the easy and simplified import and clearance procedure of Sri Lanka.