Tuesday, 10 December 2019 03:58

Sri Lanka inks two MOUs with Chinese Sichuan province

Sri Lanka’s Confederation of Micro, Small and Medium Industries (COSMI) and two trade associations of The Chinese province of Sichuan and its reputed Mianyang city have signed Memorandum of Understandings (MOU) to improve bilateral ties on trade and investment in Colombo on Monday 9.

President of COSMI Macky Hashim and its founding President Nawaz Rajabdeen signed the MOUs on behalf of Sri Lankan side while Chairman Mianyang Foreign Trade Association, Zhang Zhongcheng and Director International Department, John Luo signed on behalf of Chinese side.

State Minister of International Cooperation Susil Premajayantha was the chief gust at the signing ceremony.

A high-powered 15 member Chinese business delegation is now in Sri Lanka seeking opportunities in trade cooperation with Sri Lanka SMEs.

The Chinese province of Sichuan and its reputed Mianyang city, via their trade associations are promoting bilateral trade under the framework of the Belt Road Initiative.

The delegation shall exchange cooperative information and intentions, and also hold one-to-one meetings with leading industry representatives from Sri Lanka.

The Confederation of Micro, Small and Medium Industries (COSMI), is a non-profit organisation aiming to revive and foster the industrial sector through the promotion of Sri Lanka’s Micro, Small and Medium Enterprises (MSMEs).

COSMI was founded by a group of industry experts and veterans of business chambers, aims to become the voice of industrial Small and Medium Enterprises (SMEs) in Sri Lanka, Mr ,Rajabdeen said.

A Chinese industry and machinery exhibition will be held in Colombo next year with the participation of Mianyang Foreign Trade Association and International Department, he said.

COSMI plans to promote MSMEs to register with it and to have access to a wide range of services, including market analysis, research and development, business feasibility studies, restructuring advice, networking, skills development, access to modern machinery and supply chain management techniques, among others, he added

COSMI believes that Asia Pacific region can play an important role in providing new technology and machinery to improve quality and productivity of products and services of Sri Lankan SMEs working with COSMI.

Chairman Mianyang Foreign Trade Association, Zhang Zhongcheng, said that they are keen to look at investments, joint ventures and trading opportunities with Sri Lankans especially in the SME sector.

“Our main areas of concern are solar energy, Agro and apparel machinery, smart devises and tourism,”he added.


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