Sri Lankan Min.r woos Saudi investments

Visiting Sri Lankan Minister of Trade and Industry Rishad Bathiudeen on Friday encouraged Saudi businessmen and investors to pump more investments in his island state, citing several promising investment privileges. In press statements following his visit to Jeddah Chamber of Commerce and Industry (JCCI) where he met a number of Saudi businessmen, Bathhiudeen said that his country has great investment opportunities in agricultural and tourism sectors as well as garments, gem and jewelry production. He also said his country has cheap labor who can be employed in the investment projects in Sri Lanka or Saudi Arabia. For his part, JCCI Secretary General Adnan Mandoura underlined the importance of bolstering bilateral ties, through increasing trade exchange. Latest Saudi data estimate the value of trade exchange between Saudi Arabia and Sri Lanka at 605 million Saudi Riyals (SR 472 million for exports and SR 133 million for imports), Mandoura pointed out. He also revealed that about 168,000 Sri Lankans are working in the different sectors in Saudi Arabia.