Sri Lanka to set up joint trade commission with Russia

The Sri Lankan government has received Cabinet approval to establish a joint commission with the Russian Federation to enhance the bilateral trade ties.

Colombo: The Sri Lankan government has received Cabinet approval to establish a joint commission with the Russian Federation to enhance the bilateral trade ties.

The Cabinet met on Thursday and approved a proposal made by the Minister of Industry and Commerce Rishad Bathiyutheen to enter into an agreement on establishment of the "Inter-governmental Commission on Trade, Economic, Scientific and Technical Cooperation" with Russia to enhance cooperation between the two countries in those fields, reports the Lanka Page.

Sri Lanka`s exports to Russia have increased from USD 11.6 million in 2001 to USD 279.91 million in 2013.

Sri Lanka`s imports from Russia have increased from USD 3.7 million to USD 145.85 million during the same period.

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