Reply To:
Name - Reply Comment
Last Updated : 2024-04-20 17:50:00
According to the Department of Commerce of Sri Lanka, 2011 recorded the highest total trade turnover between Malaysia and Sri Lanka at US $ 849.59 Mn. The balance of trade has been heavily in favour of Malaysia during last 10 years mainly due to high volume of imports of petroleum and palm oil from Malaysia. Sri Lanka’s exports to Malaysia have been gradually increasing over the last 6 years from US $ 24.87 Mn. in 2006 to US $ 96.39 Mn, in 2011.
Malaysian companies have been involved with construction projects since 1997 in sectors such as hospitality and tourism, energy, oil and gas, water supply and housing projects. Malaysian based Dialog Axiata is a leading mobile telephony operator in Sri Lanka. More recently, the Malaysian owned TKS Group of Companies which has diversified interests in Sri Lanka, increased its presence here specifically in the finance sector.
Private Universities of Malaysia such as MSU, have started coming to Sri Lanka. About 1700 Sri Lankan students are already studying in Malaysia. The first meeting of the Sri Lanka –Malaysia Joint Commission was held in Colombo in June 2006.
Malaysia meanwhile, is a member of the ASEAN Free Trade Agreement (AFTA) and also can benefit from ASEAN-China FTA, ASEAN-Japan Economic Partnership Agreement, ASEAN- South Korea Free Trade Area and Agreement on Trade Preferential System among the Member States of Organization of the Islamic Conference (TPS – OIC) among others.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul
A recent post on social media revealed that three purple-faced langurs near t