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    Turkey to boost trade with Sri Lanka

    April 19, 2015

    A Turkish business delegation keen to invest in Sri Lanka will be visiting Sri Lanka soon to explore business opportunities, Turkish Ambassador to Sri Lanka, Iskender Okyay said.

    He said they are keen on the manufacturing sector, tourism, power generation and several other areas at a reception hosted for the media last week.

    Turkey is looking at increased of trade volumes between the two countries and are also looking at increasing tourism between the two countries Okyay revealed and said that Turkish Airline is also looking at introducing two direct flights to Sri Lanka from mid this year.

    "This is due to fast connections Turkish Airlines offers from Istanbul to other destinations".

    Currently, Turkish Airlines operates to Colombo with a stopover in the Maldives. Current trade volumes is around US$ 128 million with the trade balance being in favour of Sri Lanka and this is expected to be bettered this year. Though trade volumes were at US$ 187 in 2010 there was a dip and its now once again picking up. (2013 trade was at US $ 122 million with imports from Sri Lanka being US $ 84.4 million).

    Turkish exports to Sri Lanka consist textile products (% 23,8), chemical substances and products (% 10,1); machinery and equipment (% 10,1); food products and beverages (% 9,3); metal equipment industry products (% 7); motor vehicles (% 5,6); plastic and rubber products (% 6) and others.

    Sri Lankan import are mainly; garment (% 39,9); textile products (% 19,6); plastic and rubber products (% 13,9); agriculture and husbandry products (% 10,7); chemical substances (% 8,9) and others, said, Mehmet Akta, Second Secretary of the Embassy of the Republic of Turkey.

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