Sri Lanka to set up joint trade commission with Russia

The Cabinet of minister has given its approval to establish a joint commission with the Russian Federation to enhance the bilateral trade ties.
The Cabinet met on Thursday approved a proposal made by the Ministry of Industry and Commerce Rishad Bathiyutheen to enter into an agreement on establishment of the “Inter-governmental Commission on Trade, Economic, Scientific and Technical Cooperation” with Russia to enhance cooperation between the two countries in those fields.

According to the government, the bilateral trade between Sri Lanka and Russia has been increasing over the years.

Sri Lanka’s exports to Russia have increased from US$ 11.6 million in 2001 to US$ 279.91 million in 2013 while Sri Lanka’s imports from Russia have increased from US$ 3.7 million to US$ 145.85 million during the same period.