The Asia Pacific heads of multinational Coca-Cola has expressed their willingness to develop Sri Lanka as a production hub to re-export their products to India.
A Finance Ministry statement said this was conveyed during a meeting Finance Minister Ravi Karunanayake had with Coca-Cola Asia Pacific Group President John Murphy and Executive Vice President Irial Finan last weekend, in Colombo, a Finance Ministry statement said. India has the highest demand for Coca-Cola products in the South Asian region.
The two Coca-Cola officials had pointed out that making Sri Lanka a production hub for Coca-Cola could earn the country a huge sum of foreign exchange while generating job opportunities for the youth.
The two officials had also discussed with Karunanayake about the use of Sri Lanka’s natural water resources and tea-related products to manufacture Coca-Cola brands and re-export the final products.
The officials had also expressed their concern over the stability of Sri Lanka’s rate of taxation.