Firstpost Economy India, Sri Lanka to double trade to $10 bn by 2015

Firstpost Economy India, Sri Lanka to double trade
 to $10 bn by 2015

India and Sri Lanka

India and Sri Lanka have set a target to double bilateral trade to $10 billion by 2015, India’s Commerce and Industry Minister Anand Sharma said.“We have set a target to double bilateral trade to $10 billion by 2015. Captains of industry have accepted and endorsed it,” Sharma said. Sharma along with Sri Lanka’s Minister of Economic Development Rishad Bathiudeen and Minister of Industry and Commerce Sarath Amunugama, inaugurated the event.

 The decision was taken during the eighth meeting of the India-Sri Lanka Joint Commission in New Delhi. The meeting was co-chaired by External Affairs Minister Salman Khurshid and his Sri Lankan counterpart Prof. G.L. Peiris. The Joint Commission Meeting (JCM) was preceded by the Senior Officials Meeting at the level of the Foreign Secretaries of the two countries on Monday.

 Both sides also agreed to enhance bilateral cooperation in the areas of New and Renewable energy, and in this context agreed to conclude a MoU on Cooperation in New and Renewable Energy; to cooperate in establishing three power plants of aggregate capacity of 15 MW using biomass fuel; and enhance cooperation in wind and solar energy sectors.