Sri Lanka seeks investments from Indonesia

COLOMBO, March 1 (Xinhua) — Sri Lankan Prime Minister Dinesh Gunawardena sought investments from Indonesia in industries such as pharmaceuticals, electrical appliances and solar batteries as many incentives have been offered to foreign investors, according to a statement sent to media on Wednesday.

According to the statement released from the prime minister’s office, Indonesian ambassador Dewi Gustina Tobing called on the prime minister on Tuesday and expressed her country’s willingness to finalize a preferential trade agreement with Sri Lanka.

Quoting the ambassador, the statement said Indonesia’s Eximbank had agreed to grant credit facilities for bilateral trade with 85 percent guarantee by the Asian Development Bank and the remaining percentage by Sri Lanka.

The statement said several pharmaceutical companies are willing to export essential medicines to Sri Lanka under that credit line.

The prime minister said that Indonesian industries like aluminum, rattan furniture and batik could transfer the latest knowhow to the Sri Lankan industries.

“The discussion also explored the future cooperation not only on trading but also on partnerships or joint ventures by investing in Sri Lanka. In this case, it will supply the Sri Lankan domestic market and utilize the position of Sri Lanka as an economic hub in the region,” the statement said. Enditem

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