Business Times

Sino - Sri Lanka trade shows record US$ 2.1 billion volume

Sino - Sri Lanka trade volume has registered a record US$2.1 billion last year with a growth of 28% with China’s imports increasing by around 45%in the first half of this year. China becomes the 3rd top trading partner and the 2nd largest import source of Sri Lanka, said Wang Jianfeng, 3rd Secretary, Chinese Embassy in Sri Lanka speaking at the Sri Lanka - China Business Cooperation Council’s ‘SLCBCC Business Star Awards 2011’ in Colombo on Monday. The ceremony was organized by the SLCBCC for the first time in the Council’s 17 year history.

He noted that the friendly relations as well as amicable contacts in trade between the two countries have been lasting for thousands of years. Starting from the historical Rubber –Rice pact in 1952 , bilateral trade and economic cooperation between China and Sri Lanka have expanded rapidly. He noted that SLCBCC has become an active player to develop closer economic ties between the two countries.
Foreign Secretary Karunaratne Amunugama who was the chief guest at the ceremony said that China was supporting Sri Lanka in maintaining the country’s territorial integrity and sovereignty. He pointed out that China has emerged as one of Sri Lanka’s leading development partners, and an important country for further enhancing the island’s trade and investment.

SLCBCC President Nihal Mallikaarachchi said that the SLCBCC Business Awards 2011 was specially designed to recognise the performance of the member companies engaged in business activities with China and who have made significant achievements through exemplary business practices.
The criteria for evaluation was based on business and financial performance, excellence in product and process innovation, reach in the global market, knowledge integration, technological investment, capital investment towards future growth, implementation of best management practices, successful corporate governance and implementation of corporate social responsibility, he revealed.

Gold, Silver and Bronze awards were presented to the winners under four sectors, imports, exports, manufacture and services. Aminra Collections (Pvt) Ltd, Devi Trading Company and Wijetunge Machinery (Pvt) Ltd received Gold awards for their exemplary business practices.

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