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Sri Lankan products to be showcased in Chennai

By Our Special Correspondent

CHENNAI Sept. 3. The Export Development Board (EDB) of Sri Lanka proposes to open a showroom-cum-retail outlet in Chennai to enable the country's products to reach a wider market in South India, according to the Chairman of the board, R. Sivaratnam.

Initially, the outlet is to be franchised for three years and is likely to be opened early next year, possibly in the Spencer Plaza, Mr. Sivaratnam said.

Addressing a meeting organised by the Southern India Chamber of Commerce and Industry (SICCI) here today and in his subsequent reply to questions, Mr. Sivaratnam said the first India-Sri Lanka Free Trade Agreement (FTA), which took effect in the year 2000, remained on paper because of restrictions like specification of only a few ports for import into India and quotas on garments. It had not led to substantial expansion in Sri Lanka's exports to India and bridging of its huge trade gap vis-a-vis India. He hoped that the framework for an FTA-II between the two countries now under preparation would prove more effective.

Mr. Sivaratnam said at least 60 per cent of the garment export units in Sri Lanka would be able to survive the opening up of the global market in 2005 and the network of FTAs that the U.S. was creating with countries in the Caribbean basin, Africa and South America since the Sri Lankan units had excellent plant and technology and had acquired dynamism in global marketing.

The EDB Chairman emphasised the scope for joint promotion of tourism by India, Sri Lanka and Maldives in the global market.

The SICCI president, R. Muthu, said there was need to facilitate increased imports from Sri Lanka into India with due regard, however, for prevention of practices like dumping.

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