LBR LBO Summit
LBR LBO Summit

Sri Lanka – Poland trade balance in favor of SL: forum chief


Oct 12, 2015 (LBO) – High export volumes have contributed to the balance of trade between the two countries in favor of Sri Lanka, chairman of Sri Lanka Poland business forum Samantha Ranatunga said.

“This is rare for our country and more the reason why we value doing business with Poland,” he said.

Exports from Sri Lanka to Poland have increased from 47 million US dollars in 2013 to 53 million US dollars in 2014.

The main items Sri Lanka is exporting to the Polish market consist mostly of the traditional items – Tea, Spices, Garments and Rubber products.

“Ceylon Tea is well known in Poland and the potential to increase our exports of tea to Poland further, is immense.” Ranatunga said.

He was speaking at a forum hosted to welcome a Poland delegation headed by Poland Deputy Foreign Minister and Ambassador for Poland in India.

Exports from Poland to Sri Lanka have also increased from 13 million US dollars in 2013 to 18 million US dollars in 2014.

Sri Lanka imports items such as paper and paperboard, machinery, agriculture equipment, electrical items, iron and steel from Poland.

“We urge the Polish business community to look at other agricultural products for import and export to boost the bilateral trade between our two countries,” he said.

In 2013, the Ceylon Chamber of Commerce signed a Memorandum of Understanding with the Polish Chamber of Commerce to boost trade relations.

“We need to make maximum use of this liaison between the Chambers to interact closely with Business persons from each others’ country.” Ranatunga further said.

Tourist arrivals from Poland have shown a remarkable increase of 38 percent from 9,688 in 2013 to 13,370 arrivals in 2014.