Trade between India and Sri Lanka has eased in recent months by around 40% compared to booming trade earlier but the reasons for the decline is unclear, said Santosh Jha, Counsellor (Economic and Commercial) High Commission of India in Sri Lanka.
He was speaking at a press conference in Colombo last week to announce the holding of EXCON 2009, the 5th International Construction Equipment and Construction Techno logy Trade Fair to be held at the Bangalore International Exhibition Centre, Bangaore, India from 25 – 29 November.
He said that earlier economic relations between India and Sri Lanka were very fast where every week there were some developments taking place.
The Free Trade Agreement between the two countries augmented economic relationship and both countries made great achievements due to this FTA, he said adding that Sri Lanka benefitted more by this FTA.
The exhibition which is the second largest in the world and in the South Asian region held every two years was officially introduced in Sri Lanka at the Road Show held in Taj Samudra on Wednesday.
The largest exhibition is conducted in Germany organized once every three years. Anand Sundaresan, EXCON 2009 Steering Committee, CII Member and Managing Director, Schwing Stetter India Pvt Ltd MD said that the exhibition would offer opportunities for those who look for the latest construction equipment and technology available in the Indian market.
He said that at the 2007 EXCON the sales reached Indian Rs 4,000 million, there were 30,000 visitors with 250 participating exhibitors.
He said that this year they are expecting 350 exhibitors with country pavilions from China, Italy, South Korea, Germany and UK. |
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