Tremendous opportunities for Sri Lankan goods in Egypt
View(s):Tremendous business opportunities exist in Egypt for Sri Lankans who like to export Sri Lankan goods such as gems and tea, a top official said.
Egyptian Ambassador to Sri Lanka Hisham Mohamed Assran said trade between Sri Lanka and Egypt was limited despite having an excellent political relationship between the two countries. “When it comes to trade we have to make a fresh start. Bilateral trade between the two counties doesn’t exceed UD$50 million which is not much. I am sure that so many things have to be explored,” he told a media briefing held at the National Chamber of Commerce (NCC) in Colombo last week.
Referring to tourism, he said Sri Lanka has the potential to develop the tourism sector having many tourist sites in the country. He urged Sri Lanka to launch a vigorous campaign abroad to promote Sri Lanka as a tourist destination to attract high spending tourists. Modern highways with restaurants and rest-houses alongside will have to be built for tourists travelling long distances. Night time entertainment should also be available with good quality food such as good sea food. “I love Sri Lanka and its people,” he said. Sri Lanka’s diplomatic missions abroad should promote Sri Lanka as a tourist destination.
He said Egypt exports to Sri Lanka include fruits, vegetables, copper and machines among other things. “Egypt organises an industrial exhibition in March every year where all Egyptian companies take part in the exhibition. I urge Sri Lankans to pay a visit to this fair. We produce home appliances, refrigerators, ceramic ware, chandeliers at competitive prices and high quality furniture and sugar. The prices are cheaper than in Sri Lanka. We also produce train carriages that are of a high quality.” He said plans are underway to produce four million metres of natural silk. The Silicon Valley in Egypt manufactures software and hardware for computers. Egypt was in the process of building a new administrative capital with an investment of $45 billion, he added.
In the last two years Egypt has invested in infrastructure projects such as roads, and building three airports and three seaports. The land adjacent to the new Suez Canal will also be available for investors. Egypt also have plans to set up nuclear plants by the end of this year to augment the power supply and will search for gas exploration to be exported. Asked whether Sri Lankans could export gems to Egypt, the ambassador said that most gems from Sri Lanka reach Egypt through third parties but was not directly exported to Egypt. NCC President Thilak Godamanna said the chamber’s next exhibition is the international indigenous health care exhibition in collaboration with the Ministry of Indigenous Medicine on July 7-9, 2016, at the BMICH. The chamber’s flagship event, the National Business Service Awards will be held at the end of the year.- (JJ)