Sri Lanka is drumming up support for an annual regional export sector exhibition, kicking off its campaign with a 4-day local event in November 2004.
A regional event is expected to foster greater inter-Asian trade and push down trade barriers, while giving local exporters an opportunity to attract regional investment partners.
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rnThe South Asian Association Regional Cooperation (SAARC) members offer each other a combined market of over 1.4 billion people or one in five of the worlds population.
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rnIntra-regional trade forms a paltry 5 per cent of the total trade by SAARC nations and only about US$ 4 billion annually say trade analysts. rn
rnIn comparison, upto 60 per cent of EUs trade is with each other. rn
rnSouth Asian countries are more comfortable trading with the rest of the world than between themselves because they produce pretty much the same types of goods, say analysts.rn
rnThe regions larger export industries include textiles, garments, and agricultural commodities like tea a