Use Sri Lanka to penetrate South Asian Market - Malaysian Chamber of Commerce
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- Published on Wednesday, 11 July 2012 15:11
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The Secretary General of the National Chamber of Commerce and Industry Malaysia Datuk Syed Hussien Al-Habshee has said that by investing in Sri Lanka, Malaysian investors could seize opportunities offered by the Free Trade Agreement (FTA) between Sri Lanka and India and also with Pakistan to invest in South Asia.
He has said that by investing in Sri Lanka, Malaysian companies can also penetrate the market of 1.5 billion in India and Pakistan.
He has said so.to the Malaysian National News Agency - Burnama, after accompanying a recent Malaysian trade delegation to Sri Lanka, headed by NCCIM President, Syed Ali Alattas. He has said that the delegation had meetings with Sri Lanka’s Economic Development Minister Basil Rajapaksa, as well as the Minister of Industry and Trade, Rishad Bathiuddin and the meetings were very fruitfull and they have explored many investment opportunities in Sri Lanka.
He has further said that under the FTA with India, a total of 4,200 Sri Lankan products are exempted from tax by the former, while in the case of Pakistan, there are 3,200 products which enjoyed the benefit. Through the FTA with India and Pakistan, he has said that Malaysian investors can set up plants in Sri Lanka before exporting their products to both countries without any problem.
He has also commended the rapid development that is taking place in the country, especially infrastructure development after vanquishing the scourge of terrorism in the country and the peaceful investor friendly atmosphere existing in the country. (niz)
