Kazakhstan and Sri Lanka to discuss mutual trade

Kazakhstan and Sri Lanka will discuss mutual trade, Tengrinews.kz reports citing the press-service of Kazakhstan Chamber of Commerce. "Kazakhstan-Sri Lankan business forum will be held in Astana on November 20. It will be attended by Kazakhstan Prime-Minister Serik Akhmetov. The delegation of Sri-Lanka will be led by President Mahinda Rajapaksa," the press-service writes. During the forum the participants will discuss bilateral cooperation and investment capacities of both countries in tourism, Ceylon tea, spices, gems, textile, ceramics, production of rubber and plastic, etc. Heads of the governments and representatives of the business circles will sign a range of bilateral economic documents. "Special attention will be given to discussion of the investment potential of Sri Lanka that has created unique conditions offering 100-percent tax exemption in the first 5-10 years to foreign investors," the Chamber of Commerce states. The press-service also stresses that Kazakhstan views Sri Lanka as a potential market for sales of the locally-made goods (cars, equipment, construction materials and grain). There is a capacity to expand import of organics (fruits and vegetables), light industrial goods and food, as well as jewelry and ceramics from Sri Lanka. The commodities turnover between the countries reached $5.7 million in January-August 2012 (import only). Kazakhstan mainly imports world-famous Ceylon tea (89 percent of all the import), goods made of wood and other organic materials.