“Today’s MOU aims to exchange market information and relevant publications, exchange of official visits between two countries and support to participate at trade exhibitions and other trade events with the overall objective of developing trade between two countries.” Yousuf Maraikkar, Executive Director of Export Development Board said.

China is Sri Lanka’s second largest import country with a value of 3 billion US dollars accounting for 17 percent of total imports in 2013. Total trade with China stood at 3,081 million US dollars in 2013.

Sri Lanka’s exports to China has grown over the past five years increasing from 59 million US dollars in 2009 to 121 million US dollars in 2013.

Guangdong is a province on the South China Sea coast of the People's Republic of China which produce 10 percent of China’s GDP, with 104 million population and host some of the largest global multinationals such as Shell (the Petrochemical giant) and Du Pont (chemicals).

Guangdong also hosts China’s largest international annual expo, the ‘Canton Fair’.

“During President (HE) Xi Jinping’s recent visit to Sri Lanka this September, he and HE the President Mahinda Rajapaksa reached consensus to deepen the strategic partnership and joint construction of 21 Century Maritime Silk Road,” Zhang Hua,Vice President of CCPIT Guangdong Sub Committee said.

“Now the countries have officially started the bilateral FTA negotiations, we believe that the bilateral cooperation in investments, JVs, tourism, development, bilateral projects and other areas would be ‘further deepened’ in future.”

(LBO)