Sri Lanka and BRICS countries to promote trade
Ceylon Chamber of Commerce has signed a co-operation agreement with the Chamber for Promotion and Economic Development of the BRICS countries to promote trade.
Under the agreement, CCC will initially promote an identified range of products and services between Sri Lanka and BRIC countries and also facilitate alliances on reciprocal basis.
The agreement has come into effect from the 1st of May.
A statement issued from the CCC says, under this agreement, Sri Lanka will promote Apparel, Gems & Jewellery, Rubber, Rubber Products, Spices, Tea and Tourism under this agreement, while Brazil will focus on promoting Cosmetics, Diamonds, Emeralds, Food & Beverages, Fresh Oranges, Medical Equipment, Pharmaceuticals and Tourism.
“Both institutions will call applications using a prescribed format from potential companies, which are interested in entering into partnerships for possible trade tie ups between Sri Lanka and BRICS countries” further added the CCC statement.
Chamber says the products will be identified using Harmonized System Codes in order to avoid mismatch of business interests of applicants.
BRICS is an international organization of leading emerging economies and its members are Brazil, Russia, India, China and South Africa which represent almost 3 billion people, with a combined nominal GDP of US$13.7 trillion.