Oman's Sri Lanka trade to reach $250m by 2015

Trade between Oman and Sri Lanka could increase to US$250m (OMR96.2m) by 2015, according to Sri Lanka’s ambassador to the Sultanate, HE Asoka Girihagama.

Speaking ahead of the first Sri Lankan Trade Exhibition and Food Festival, to be held from 12-14 February in Muscat’s Al Falaj Hotel, the ambassador explained there is potential to boost trade between the two countries.

He said: “In 2011 Oman-Sri Lanka trade stood at US$232m. We are keen to enhance our bilateral trade with Oman. Currently the trade balance is largely in favour of Oman, but we intend to reduce the deficit in the near future.

“The sultanate is a promising destination for Sri Lankan products and services.”

The man products imported by Oman from Sri Lanka include tea, ceramics and desiccated coconut, while oil products form the bulk of exports. The exhibition will give Sri Lankan entrepreneurs the opportunity to showcase their products and services with the hope of adding to the import portfolio.

Girihagama added: “The expo coincides with the celebrations of Sri Lanka completing 25 years of diplomatic relations with the Sultanate. This exhibition will further strengthen the excellent relationships and increase bilateral trade between the two countries.”