India'S Direct Foreign Investment In Sri Lanka Has Grown Phenomenal.
India
- the Sri Lanka free trade agreement (FTA) was the first free trade agreement signed in 1998.
Sri Lanka
It carries substantial emotional value.
The two countries can play an important role in the economic relations between India and Sri Lanka and raise bilateral economic relations from the current level to a higher level.
In addition, Sri Lankan private enterprises also held their partners in Hyderabad in 2012.
Relationship Summit
The result is optimistic.
"I firmly believe that the India Sri Lanka free trade agreement is the most significant and innovative cooperation between India and Sri Lanka. We have been on the commercial front so far," Rishad Bathiudeen, Sri Lanka Minister of industry and commerce, said in January 12th.
The minister spoke at the eighteenth summit of partnership in 2012. The summit was opened with Hyderabad on that day. Several ministers, including India, and a large number of industrial leaders, representing 47 countries, attended the summit.
Sri Lanka's commerce minister, Bathiudeen, led Sri Lanka delegation to this summit.
He said: "since the India Sri Lanka free trade agreement began operation in 2000, the trade between our two countries has increased in an unprecedented way.
The value of bilateral trade increased from about $650 million in 2000 to over $3 billion in 2010.
I believe the bilateral trade volume will soon reach US $4 billion.
In 1982, India's direct foreign investment began to enter Sri Lanka. At that time, Ashok Leyland decided to build a bus assembly plant under the cooperation of the government.
However, a large number of investment in India began to flow into Sri Lanka in the middle of 1990s.
Investment in India flows into steel and cement.
coating
Industry and building materials such as roof panels
field
。
After the signing of the India Sri Lanka free trade agreement, the development of air traffic and the relaxation of the visas of India nationals, the third wave of investment in India has emerged.
In 2000, India's cumulative investment in Sri Lanka was $24 million, reaching an astonishing $600 million in 2011.
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