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* Oman, Lanka trade set to reach $250m
Mon, Feb 4, 2013, 10:35 am SL Time, ColomboPage News Desk, Sri Lanka.

Feb 04 (ODO) MUSACTó The bilateral relations between the Sultanate of Oman and the Sri Lanka have been on a steadily growing mode and the same is all set to hit a whopping $250 million by the year 2015, according to the Sri Lankan Ambassador to the Sultanate, Asoka Girihagama.

This growth trajectory is based on the analysis of the past years' Balance of Trade and Balance of Payments figures and the rate of increase at which the same has been marching is nearly 10 per cent average. Speaking to the Observer on the sidelines of the announcement of the first Sri Lankan Trade Exhibition and Food Festival which will be held from February 12 to 14, 2013, he said that the exports from Oman to Lanka amounted to nearly $223 million while the imports to Oman accounted for $9 million in 2012.

"Our exports to Oman in 2012 were $9 million while our imports from Oman were $223 million making our total bilateral trade figure to stand at $232 million. The main products imported by Oman from Sri Lanka currently include tea, ceramics and desiccated coconut, while oil products form the bulk of exports".

"We have identified Oman as one of the potential markets that Sri Lankan exporters and entrepreneurs could enter easily with confidence due to its low competitiveness and rich market conditions. In line with that, we have invited the corporate bodies, business entities and companies in Sri Lanka to take part in the forthcoming exhibition", he added.

Under the auspices of the Embassy of Sri Lanka in the Sultanate of Oman, the exhibition is being organised by Al Nimr Expo and Business Process Outsourcing Services LLC (BPOS) will be the Event Manager on behalf of the Sri Lankan Embassy. This exhibition will coincide with the celebrations of Sri Lanka completing 25 years of diplomatic relations with the Sultanate of Oman.

Girihagama further said, "This is the first time that Sri Lankan entrepreneurs will have the opportunity to showcase their products and services, in Oman. I believe Oman is a promising destination for Sri Lankan products and services. This will be an excellent opportunity for both countries to promote and expand bilateral trade relations, further.

Read More:: ODO (Source)