Turkey shows keen interest to increase trade volumes with Sri Lanka

YarnsandFibers News Bureau 2015-04-20 15:00:00 – Istanbul

Turkey is looking at increased of trade volumes with Sri Lanka. A Turkish business delegation will be visiting Sri Lanka soon to explore business opportunities as they are keen to invest in Sri Lanka, said Turkish Ambassador to Sri Lanka, Iskender Okyay.

They are keen on the manufacturing sector, tourism, power generation and several other areas.

Turkish exports to Sri Lanka consist textile products (% 23,8), chemical substances and products (% 10,1); machinery and equipment (% 10,1); food products and beverages (% 9,3); metal equipment industry products (% 7); motor vehicles (% 5,6); plastic and rubber products (% 6) and others.

Sri Lankan import are mainly; garment (% 39,9); textile products (% 19,6); plastic and rubber products (% 13,9); agriculture and husbandry products (% 10,7); chemical substances (% 8,9) and others, said, Mehmet Akta, Second Secretary of the Embassy of the Republic of Turkey.

Current trade volumes is around US$ 128 million with the trade balance being in favour of Sri Lanka and this is expected to be bettered this year.

Though trade volumes were at US$ 187 in 2010 there was a dip and its now once again picking up. (2013 trade was at US $ 122 million with imports from Sri Lanka being US $ 84.4 million).

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