Sri Lanka chamber in link with BRICs counterpart

Chandi Dharmaratne

May 03, 2012 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said it had signed a deal with its counterpart representing Brazil, Russia, India, China and South Africa (BRICS) to promote economic links. The co-operation project was started with the help of Sri Lanka’s ambassador to Brazil, Mahinda Balasooriya, the Chamber said.

The agreement with the Chamber for Promotion and Economic Development of the BRICS countries (BRICS-PED) will promote products and services and foster alliances on a reciprocal basis, the chamber said.

Sri Lanka will promote apparel, gems and jewellery, rubber, rubber products, spices, tea and tourism.

The BRICS chamber will focus on promoting cosmetics, diamonds, emeralds, food and beverages, fresh oranges, medical equipment, pharmaceuticals and tourism.

“Both institutions will call applications using a prescribed format from potential companies, which are interested in entering into partnerships for possible trade tie ups between Sri Lanka and BRICS countries,” the chamber said in a statement.

“Products will be identified using Harmonized System Codes (HS Codes) in order to avoid mismatch of business interests of applicants.”