Moscow calls Sri Lanka for Russian Davos again
Sri Lanka has been invited again to showcase its investment and export portfolios at a premier global forum, dubbed as Russia’s Davos.
“This year’s St. Petersburg International Economic Forum (SPIEF) will have an exhibition – the SPIEF Investment & Business Expo – along with other events. We officially invite you to SPIEF 2018. This invite is directly from our Deputy Prime Minister Vladimirovich Dvorkovich,” said Russian Ambassador to Sri Lanka Yuri Materiy yesterday.
Materiy was addressing Industry and Commerce Minister Rishad Bathiudeen during his call on Bathiudeen at the ministry.
Russian deputy prime minister invited Sri Lanka for last year’s SPIEF as well.
The SPIEF is a huge annual conference targeted at the highest levels of government personalities across the world, often drawing high-ranking participants. Last year’s SPIEF saw more than 143 countries, 14000 visitors and 1100 companies, 700 from Russia. United Nations Secretarygeneral, Organisation of the Petroleum Exporting Countries secretary general, Indian, Gabon, Mongolian and Dominican prime ministers were among the expo participants.
“This forum has become a leading global platform for representatives of the business community to meet and discuss the key economic issues. It’s held under the auspices of the president of the Russian Federation. Our deputy prime minister invites Sri Lanka to take part,” added Materiy.
Bathiudeen said Sri Lanka’s participation at SPIEF 2018 is a good opportunity to showcase its products to the global markets.
“We thank for this invite and I shall discuss with the Commerce Department and International Trade Minister Malik Samarawickrama about our participation. The SPIEF can help increase our exports to new Russian markets.”
According to the Commerce Department, the balance of trade between Russia and Sri Lanka is in Sri Lanka’s favour. Lankan exports to Russia last year increased by 15 percent at US $ 210 million, from 2016’s US $ 182 million. Even total trade increased in 2017 to US $ 384.63 million from 2016’s US $ 381.71 million. Eighty three percent of last year’s exports to Russia was Ceylon Tea.
Apparel, fibres and yarns and tyres were other main exports to Russia.
Bathiudeen and Materiy also discussed other aspects of bilateral business and trade cooperation during their 25 April meet.