Sri Lanka promotes trade with BRICS countries

Ceylon Chamber of Commerce (CCC) has signed an agreement with the Chamber for Promotion and Economic Development of the BRICS countries (BRICS-PED).

BRICS is the new emerging powerful economic bloc representing Brazil, Russia, India, China and South Africa.

Sources from the CCC said the new agreement will promote products and services and foster alliances on a reciprocal basis.  Under this agreement Sri Lanka will promote apparel, gems and jewellery, rubber, rubber products, spices, tea and tourism.

The BRICS chamber will focus on promoting cosmetics, diamonds, emeralds, food and beverages, fresh oranges, medical equipment, pharmaceuticals and tourism.

The Chamber of Commerce said that both institutions will call applications using a prescribed format from potential companies, which are interested in entering into partnerships for possible trade tie ups between Sri Lanka and BRICS countries. It said that products will be identified using Harmonized System Codes (HS Codes) in order to avoid mismatch of business interests of applicants.

The Chamber of Commerce further said that the co-operation project was started with the help of Sri Lanka's Ambassador to Brazil, Mahinda Balasooriya. (niz).