Recent statistics with regard to trade between Sri Lanka and Malaysia show that there has been a drop in exports from Sri Lanka to Malaysia whereas imports from there has risen.  Imports from Malaysia have increased from US$ 570 million in 2013 to US$ 716 million in 2014 whereas exports from Sri Lanka have decreased [...]

The Sunday Times Sri Lanka

Value addition can boost exports from Sri Lanka to Malaysia

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Recent statistics with regard to trade between Sri Lanka and Malaysia show that there has been a drop in exports from Sri Lanka to Malaysia whereas imports from there has risen.  Imports from Malaysia have increased from US$ 570 million in 2013 to US$ 716 million in 2014 whereas exports from Sri Lanka have decreased from US$45 million in 2013 to US$ 42 million in 2014. Exports to Malaysia from Sri Lanka have been decreasing since 2011, according to statistics.

Speaking to the Business Times on the sidelines of the 21st AGM of the Sri Lanka-Malaysia Business Council (SLMBC) held at the Hilton Colombo Residences recently, outgoing President Nilrukshi De Silva noted that if “we add value to the export products, we should be able to increase Sri Lanka’s export market. That is the main reason for exports to reduce every year.”

Malaysian High Commissioner to Sri Lanka, Azmi Zainuddin in his speech, said, “Malaysia will continue trading with Sri Lanka and I’m hoping that the trade relationship between the two countries will further increase in the years to come. The new Sri Lankan government led by the people of Sri Lanka is very positive about the relationship between the two countries to strengthen.”He also noted that more than 1500 Sri Lankan students are studying in Malaysia and the number increases every year.

United Motors Lanka PLC Executive Director Finance Aashiq Lafir was appointed as the President of the council for the year 2015-2016 at the AGM. (RM)

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