Colombo, April 25 (newsin.asia) – The Sri Lankan government, on Wednesday said it had received an invitation from Moscow, to participate in an international investment and trade forum this year to showcase the island’s investment and export portfolios.
The Ministry of Commerce and Industry, in a statement said it had received the invitation from Russia’s Deputy Prime Minister Vladimirovich Dvorkovich to participate in the St. Petersburg International Economic Forum (SPIEF).
Dubbed as Russia’s Davos, SPIEF is a mega annual conference targeting the highest levels of government personalities from across the world, often drawing high ranking participants.
More than 143 countries, 14000 visitors and 1100 companies participated in the exhibition last year, including the Secretary-General of the United Nations, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), the Prime Ministers of India, Gabon, Mongolia, and Dominica.
“This Forum has become a leading global platform for representatives of the business community to meet and discuss the key economic issues,” Russia’s Ambassador to Sri Lanka, Yuri Materiy, quoted in the statement said.
Minister of Industry and Commerce, Rishard Bathiudeen said Sri Lanka’s participation at SPIEF 2018 is a good opportunity to showcase its products to the global markets.
According to the Department of Commerce, Sri Lanka’s exports to Russia last year increased by 15 percent at US 210 million dollars, from US 182 million dollars in 2016. Total trade also increased in 2017 to US 384.63 million dollars from US 381.71 million dollars in 2016.
83 percent of last year’s exports to Russia was Ceylon Tea. Apparel, fibres and yarns, and tyres were other main exports to Russia.