Sri Lanka - China Trade Relations
2012-08-31
 

Trade relations between Sri Lanka and China span a long history going back to several centuries. The period beginning from 1952 opened a new chapter in trade relations between the two countries, with the signing of a Trade Agreement relating to barter trade on rubber and rice.

 

Sri Lanka’s exports to China have in the recent past increased tremendously reaching 153 million US Dollars in 2011 from 102 million US Dollars in 2010.  Imports from China to Sri Lanka also has increased to 2, 989 million US Dollars in 2011 from 1, 995 million US Dollars in 2010. Total trade between Sri Lanka and China has increased by 50% in 2011 as could be seen from the following table.


Sri Lanka Exports, Imports, Total Trade & Balance of Trade with China


YEAR

2008

US $ Mn.

2009

US $ Mn.

2010

US $ Mn.

2011

US $ Mn.

 

Import from China to Sri Lanka

1,623

1,569

1,995

2,989

 

Export from Sri Lanka to China

59

70

102

153

 

Total Trade

1,682

1,639

2,097

3,142

 

Balance of Trade

1,564

1,499

1,892

2,836

 

 


Potential products to import from Sri Lanka

         Tea

         Gems and Jewellery

         Rubber and rubber based products

         Coir fiber and coconut based products

         Garments

         Fisheries produts

         Handicrafts and gift items

         Spices

         Fruits



Access to Key Markets

At regional level Sri Lanka is a member of the South Asian Free Trade Area (SAFTA) and the Asia-Pacific Trade Agreement (APTA).

Sri Lanka is a founding member of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) and Indian Ocean Rim Association for Regional Cooperation (IOR-RAC).

Sri Lanka is also a member of the Global System of Trade Preferences (GSTP).

Sri Lanka has also entered into two bilateral trade agreements: the Indo-Sri Lanka Free Trade Agreement (ISFTA) and the Pakistan-Sri Lanka Free Trade Agreement (PSFTA), signed in 1998 and 2002 respectively.

As a founder member of the GATT / World Trade Organization (WTO), Sri Lanka has been an active participant in the multilateral trade negotiations.



Sri Lanka’s preferential exports under the  Asia Pacific Trading Agreement ( APTA)

 

Sri Lanka and China are members of the Asia Pacific Trade Agreement (APTA) which was formerly known as the Bangkok Agreement signed in 1975. Member countries of APTA are Bangladesh, China, India, Republic of Korea, Lao People s Democratic Republic and Sri Lanka.

 

APTA is important to Sri Lanka as it is the only trade agreement Sri Lanka partakes with China and the Republic of Korea. APTA being a dynamic regional agreement has been instrumental in producing favourable outcome to Sri Lanka. Coir products, apparel, tea, natural rubber, fish products, activated carbon, Gems & jewellery, are the main exports to China from Sri Lanka under the APTA.

 


Promotion of Sri Lanka
products through Exhibitions in China

 

 

Sri Lanka is keen to promote export products in China through effective promotional tools with the assistance of the Chinese Government, especially through participation in trade Exhibitions.

 

The Embassy of Sri Lanka annually organizes National Pavilions at the following exhibitions in coordination with the relevant organizations in Sri Lanka:



 

Name of Exhibition

Place

 

South Asian Countries Commodity Fair

Kunming

 

Jewellery Shanghai                                  

 

Shanghai

Canton Fair                                              

Guangzhou

 

China International Jewellery Fair            

Beijing

 

Xiamen Tea Expo                                       

Xiamen

 

Guangzhou Tea Expo

Guangzhou

 

China International Tea and Tea Ceremony Exhibition

 

Beijing

Beijing International Tea Expo

Beijing

 

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