Sunday, 12 July 2020 19:18

Sri Lanka SMEs initiate global platform call to India for frontline JVs

Sri Lankan SMEs have issued a siren call to their Indian counterparts for sustainable cross-border Joint Ventures on July 9.

The invitation, issued via the online global leadership platform ‘Indo Sri Lanka International Trade, Investment, Technology Transfer Cooperation’ on July 9 conducted by no less than the Confederation of Indian Micro, Small and Medium Enterprises, called Indian SME investors to partner in six frontline segments in Sri Lankan on Joint Venture- metal, food processing, coconuts, tea and rubber and plastic.

Sri Lanka is seeking new technology and machinery from India to revive Sri Lanka’s sick industries. Metal industries, food processing, coconut, plastic and rubber and value addition for tea are high potential sectors for partnership for Indian investors.

Members of Confederation of Indian Micro, Small and Medium Enterprises (CIMSME) can join COSMI in this.

Prime Minister Mahinda Rajapakse has endorsed Public Private Partnerships to advance SMEs” said COSMI Founder President Nawaz Rajabdeen on July 9.

The Rules of Origin (ROO) ensures the goods are wholly produced from the country of export. In case goods are not under ROO criteria, ISFTA requires a combination of Domestic Value Addition (DVA) and Change of Tariff Heading (CTH).


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