Philippines - Sri Lanka strengthened economic relations

Mrs. Erlinda F. Basilio, Undersecretary of the Ministry of Foreign Affairs of the Philippines met with Minister of Economic Development Basil Rajapaksa today at the Ministry of Economic Development.

Minister Basil Rajapaksa said Sri Lanka will always remember the help extended by the Philippines in various international forums recently. Long-standing friendship between the two countries has been strengthened from these actions he said.

The Sri Lankan airline will expand its flight services to the Philippines soon and that will help boost trade, investment and tourism between the two countries, said Minister.

Ms. Basilio said the Philippines will soon implement a embasse residence in Sri Lanka for economic cooperation between the two countries has improved rapidly. She said the investment community of the Philippines is interested in investing ICT industries, port and telecommunications in Sri Lanka.

The two sides agreed to establish a mechanism for trade and business delegation.

The main exports from Sri Lanka to the Philippines consist of textiles, tires, tea, gloves, clothing and clothing accessories.

The Philippines exports to Sri Lanka consist of parts and machine accessories, activated charcoal, cotton, iron and steel, fragrances, office machinery, food (malt extract) of electrical machines , sound recorders, building materials, textiles and son, chemicals, etc.