Daily Mirror (Sri Lanka)

SL, Egypt agree to re­solve trade is­sues, ex­pe­dite draft agree­ments, Mous

- Middle East News · Politics · Egypt · Sri Lanka · Cairo · EgyptAir Holding Company · Egyptair Cargo

Trade Min­is­ter Ban­dula Gu­nawar­dane and Egyp­tian Am­bas­sador Hus­sein El Sa­harty has agreed on the need to fol­low up tech­ni­cal meet­ings within the joint com­mis­sion on eco­nomic co­op­er­a­tion to re­solve pend­ing trade is­sues, ex­pe­dite pend­ing draft agree­ments and Mous, the Egyp­tian Em­bassy said in a state­ment.

This was agreed upon at a dis­cus­sion held last week be­tween Trade Min­is­ter Ban­dula Gu­nawar­dane and Hus­sein El Sa­harty, Am­bas­sador of Egypt, to ex­plore the po­ten­tials of en­hanc­ing eco­nomic re­la­tions be­tween Sri Lanka and Egypt, es­pe­cially bi­lat­eral trade.

The two par­ties have agreed to re­vive the Egyp­tian-sri Lankan business as­so­ci­a­tion and or­ganse large scale trade fairs and business to business meet­ings in Cairo and Colombo to re­con­nect Egyp­tian and Sri Lankan im­porters and ex­porters.

It has been noted dur­ing the meet­ing that al­though the value of bi­lat­eral trade be­tween both coun­tries av­er­aged around USD 50 Mil­lion dur­ing the last few years, clearly not re­flect­ing the huge po­ten­tials avail­able to both Egypt and Sri Lanka given their strate­gic lo­ca­tions, a num­ber of ini­tia­tives have been taken re­cently on both sides to en­cour­age and en­hance eco­nomic co­op­er­a­tion.

“These ini­tia­tives in­clude the pro­posal of a draft MOU be­tween the Ex­port

De­vel­op­ment Author­ity of Egypt and the Ex­port De­vel­op­ment Board of Sri Lanka, a draft agree­ment on Mar­itime Trans­port, an ef­fi­cient mech­a­nism to le­galise com­mer­cial doc­u­ments dur­ing COVID19 lock­downs whereby both coun­tries were able to in­crease mu­tual trade, and fi­nally the op­er­a­tion of the very first flights of Egyptair Cargo be­tween Cairo and Colombo as an in­au­gu­ral step to­wards re-es­tab­lish­ing a reg­u­lar air trans­port route be­tween both coun­tries,” it said.

The meet­ing was at­tended by Trade Sec­re­tary Bhad­rani Jayawar­dena, Ex­port De­vel­op­ment Board (EDB) Di­rec­tor Gen­eral Chi­tran­jali Dis­sanayake, EDB Mar­ket De­vel­op­ment Di­rec­tor Anoma Pre­mathi­lake, and Karim Abu­lenein, Coun­sel­lor of the Egyp­tian Em­bassy in Colombo.

The value of bi­lat­eral trade be­tween both coun­tries av­er­aged around USD 50 Mil­lion dur­ing the last few years

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