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Sri Lanka seeks N. American market access through Mexico
26 Apr, 2011 18:34:20
Apr 26, 2011 (LBO) - Sri Lanka is seeking to access North American markets under the NAFTA trade deal through partnerships with Mexican businesses, minister of industry and commerce Rishad Bathiudeen said.
"Joint business partnerships between Mexican and Sri Lankan companies will help accessing the difficult North American markets," he was quoted as saying in a statement.

The comments were made at a meeting with Jaime Nualart, Mexican Ambassador to India, Bangladesh, the Maldives and Sri Lanka.

Jaime Nualart is leading a Mexican business delegation to Colombo.

“The bilateral trade between Sri Lanka and Mexico stands at 63 million US dollars," Bathiudeen said.

"This is still a small volume and there is much potential between the two countries to enhance it."

Sri Lanka seeks to "harness synergies of Mexican and Sri Lankan entrepreneurs through mutually beneficial partnerships to exploit promising market opportunities in the US and Canada opened by the North American Free Trade Agreement," he said.

The North American Free Trade Agreement (NAFTA) among the United States, Canada, and Mexico has liberalized restrictions on trade among the three countries by scrapping tariffs and increasing market access.

Mexican Ambassador Nualart said Mexican businesses want to invest in food processing, multiplex cinemas and construction, specially shopping complexes, in Sri Lanka.
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READER COMMENT(S)
2. DillonDP Apr 27
Ha ha ha thats funny,,,, with our civil and construction engineers.... i wonder what they would build....... dont you see how long we are struggling to build the huge pit created by rain on middle of the galle road (wella) :D ......
1. Yakshya Apr 27
Why does Srilanka need Mexicanos to create that kind of Business.

WE have our civil and construction Engineers. It is hightime you guys start thinking about Sustainable development, now the Westerners pull out their money Economy will fall.