UAE-Sri Lankan trade relations on the right track

Colombo - The increasing pace of trade between the UAE and Sri Lanka is a clear indication that economic and commercial relations and cooperation between the two countries are on the right track. Foreign Trade Minister Sheikha Lubna bint Khalid Al Qasimi who ended yesterday a four-day visit to Sri Lanka, heading a large UAE business delegation, said the UAE is the largest Foreign Direct Investor in Sri Lanka, thanks to the 9.2 percent surge in trade exchange which reached US$364 million in 2010. "We are interested in Sri Lanka's tourism, education and health sectors. We also want to open doors to SMEs of both countries and take part in more and more business forums and exchange trade and business delegations," Sheikha Lubna said while addressing the Sri Lanka - UAE Business Forum on Thursday. Sri Lanka has earned respect among emerging economies. Due to its geo-strategic placement, like the UAE, Sri Lanka also is a trading hub. Sri Lanka also has more to offer due to new growth sectors such as food processing, SMEs and telecommunications. - Emirates News Agency, WAM