Sri Lankan delegation to Tajikistan in March

Sri Lankan companies have investment opportunities in Tajikistan’s hydropower, apparel processed foods and in ceramic sector and these will be explored in detail when a local delegation will visit Tajikistan next March.

“There are also investment opportunities in Tajikistan’s free trade zone,” Deputy Minister of Foreign Affairs Harsha de Silva told an investment forum on Wednesday adding that Sri Lanka will send a trade mission led by Minister of Development Strategies and International Trade Malik Samarawickrama to Tajikistan with a business delegation which will precede President Maithripala Sirisena visit.

He pointed out that although both Sri Lanka and Tajikistan had shared interests and many commonalities, trade between the two countries had not grown satisfactorily. As such, he invited Tajikistani entrepreneurs and public sector to explore the potential to investment in Sri Lanka.

The forum with a business delegation led by visiting Tajikistan President Emomali Rahmon saw the visiting President make a presentation on opportunities in his country. “Sri Lankan investors can explore hydro power generation,” he said. Electricity is the third most important export, a by-product of the country’s hydroelectric dams. Tajikistan’s main export partners are China, Turkey, Russia, Iran and Afghanistan.

Mr. Rahmon added that hydro power is one of the primary sectors of economy in Tajikistan and there’s a big market for exports of hydropower. Cotton has been a major export item for Tajikistan. In conjunction with aluminum it has earned maximum amount of overseas revenue for Tajik economy.

A Memorandum of Understanding on trade was signed between the Ceylon Chamber of Commerce and the Chamber of Commerce and Industry of Tajikistan.

Neighbouring India on the other hand has been quite zealous on ties with Tajikistan. They established an inter-governmental commission on trade, economic, scientific and technical co-operation in 2006 and have encouraged investment and trade in hydroelectricity, transport, mining, food processing, construction and tourism. India has also offered to repair and modernise the Varzob-1 hydroelectric power plant.