The Ceylon Chamber of Commerce (CCC) and Beijing Chamber of International Commerce yesterday signed a Memorandum of Understanding (MoU) to work together to promote trade and commercial ties between the two countries.

CCC CEO/Secretary General Mangala P.B. Yapa and Beijing Chamber of International Commerce Deputy Director General Yu Haibo signed the MoU on behalf of the respective parties.

The MoU will enable both parties to work together to promote trade and investment between the two nations by sharing information with regard to trade, technical transfer, economic cooperation and also exchange of important publications.

The primary focus of the MoU, which was signed at the CCC, will also particularly focus on helping the small and medium-sized enterprises of the two nations.
Speaking during the occasion, Yapa said, “It is time Sri Lanka – Chin develop business-to business (B2B) relationship, extending from the present government to government relationship.”

He also emphasized on the huge trade gap existing between the two countries, with the trade balance is in favour of China.

In response, Haibo said that the Beijing Chamber of International Commerce will help Sri Lankan exporters to enter the Chinese market.

Chinese imports to Sri Lanka during the year 2014 stand at a massive US $ 3.4 billion, while Sri Lankan exports to China just stand at US $ 173 million.
CCC Assistant Secretary General Cherryl Rodrigo, BCCI Associate Consultant Mark Yuan, CCC Assistant Secretary General and Legal Officer Oshadi Kodisinghe and CCC Management Executive Lakini Dahanayake were present at the meeting.