GSP Plus opened doors for closer France- Sri Lanka business ties: envoy
The French Ambassador in Sri Lanka Jeran-marin Schuh said that bilateral trade between the two countries is heading towards a healthy growth since Sri Lanka regained GSP Plus from the European Union last year.
He was speaking at the ‘Bilateral Trade between Sri Lanka and France’ session organized by the National Chamber of Commerce of Sri Lanka (NCCSL) recently.
“EU GSP Plus has led to increased exports in sectors of apparel and fisheries products to the French market, and more trade opportunities could be explored with close cooperation between the two countries,” he said.
Bilateral trade between the two countries stood at US$ 349 million last year and a record US$ 460 million was recorded in 2016. There are over 30 companies currently operating in Sri Lanka engaged in logistics, construction, engineering and healthcare.
“There is a huge potential for Sri Lanka when it comes to French tourists. We are expecting more than 100,000 French tourists to the island this year,” he added.
Apparels have been the main export item from Sri Lanka to France and the rest being vulcanized rubber, fish, coconut, abaca, tea, tricycles, scooters, pedal cars and similar wheeled toys.
Sri Lanka’s total imports from France have fluctuated during the past twelve years and in 2016 recorded its peak level of US$ 295.11 million due to increases aircraft imports. Aircrafts was the main importing item to Sri Lanka from France in 2016, which accounted for 54.18 percent of total imports from France. The other imports from France are medicaments, optical, photographic, cinematographic, measuring, medical or surgical instruments.
Ambassador Schuh spoke about the current business trend, trade potential, opportunities for exports and imports, investment and other services available in France.
Ambassador Schuh was accompanied by Deputy Head of Mission Isabelle Miscot and Commercial Counsellor Herve Sarnelli.