Business

Sri Lanka – Canada bilateral trade grew 10% in 2018

According to the Department of Commerce of Sri Lanka, the total Canada-Sri Lanka trade in 2018 stood at US $ 436 Mn, a near 10% increase from the previous year.

Sri Lankan garment exports to Canada are on the rise, and rubber and other by-products such as tyres, coconuts and sea food are also rapidly diversifying the export product mix, the Ministry of Industry, Commerce said in a press release.

Recently a meeting took place between Minister of Industry, Commerce Rishad Bathiudeen and High Commissioner of Canada to Sri Lanka David McKinnon where they discussed Sri Lanka and Canada’s shared desire to continue to expand bilateral trade and commercial ties.

A variety of high-quality Canadian products, notably wheat and lentils, make their way to households across the country, and contribute to the diversification of imports to Sri Lanka. Although modest, some notable Sri Lanka-Canada collaboration includes high-tech production facilities for garments, agriculture value addition such as plant extraction and essences, sea food processing, and ICT partnerships.

Other Canadian trade connections to Sri Lanka include sophisticated building technologies, engineering, architecture, financial services, and clean technology.