Sri Lanka is interested in increasing the supply of food and industrial products to the Ukrainian market, the Ministry of Economy said following a meeting between Deputy Minister, Trade Representative of Ukraine Taras Kachka and State Minister of Regional Cooperation of Sri Lanka Tharaka Balasuriya. “The participants expressed interest in increasing the supply of food [tea, coffee, fruit] and industrial [textiles, clothing] products to the Ukrainian market,” the ministry said on its website on Friday.
In addition, the parties noted the prospects for cooperation in aircraft and shipbuilding, supplies of Ukrainian metallurgy products, energy and transport engineering, chemical industry and agriculture, recreational cooperation and tourism.
“The basis of our exports to Sri Lanka is traditionally agricultural products – vegetables, grains, oilseeds. Obviously, the trade potential between our countries has not yet been revealed. We, in turn, are open to cooperation in the trade and economic sphere and the implementation of joint business projects,” the ministry’s press service said, citing Trade Representative of Ukraine Taras Kachka.
The parties confirmed their readiness to create a joint intergovernmental commission as a platform for the development of trade and economic cooperation, the ministry said.
According to the State Statistics Service, the negative balance of trade with Sri Lanka in the first half of 2021 amounted to $10.154 million with an increase in Ukrainian exports to this country by 12.8% – to $9.22 million and an increase in imports from Sri Lanka to Ukraine by 18.1% – to $19.37 million over the specified period.
