India-Sri Lanka economic link set to grow; Kamal Nath

New Delhi, Sept 18 (UNI) On the backdrop of providing a tariff rate quota (TRQ) of three million pieces of garments to Sri Lanka, India today expressed hope that outstanding issues relating to operationalisation of Vanaspati TRQ, import of Marble and copper would also be negotiated soon.

India had accepted TRQ of three million pieces of garments without any condition of sourcing of fabrics and port restrictions.

Interacting with the Minister of Enterprise Development and Investment Promotion of Sri Lanka Sarath Amunugama, Commerce Minister Kamal Nath said that the bilateral trade has increased to 2,462.28 million dollars in 2006-07 and hoped it would grow substantially in the coming years.

India is the dominant partner in the bilateral economic relations accounting for 15-20 per cent of Sri Lankan imports. India is also the fourth largest investor in Sri Lanka at 400-500 million dollars.

UNI