"For economic partnership to grow, there should be balance of trade between India and Sri Lanka..."

Sept 23, Colombo: Prime Minister and presidential candidate Mahinda Rajapaksa yesterday said that India has provided an excellent economic model for Sri Lanka to follow.

Speaking at the inauguration of the five-day ‘Made in India’ exhibition in Colombo, the Premier reiterated his commitment to strengthening bilateral economic ties between the two countries. He said Sri Lanka would integrate more with the Indian economy to sustain development.

“For economic partnership to grow, there should be balance of trade between India and Sri Lanka, for which Sri Lanka has to export more,” the Prime Minister said.

He added that bilateral economic cooperation between the two countries is growing. “Sri Lanka’s economy will be more and more integrated with the Indian economy, which will happen through bringing in more business from India,” he said.

High Commissioner of India in Sri Lanka Nirupama Rao added that there is immense scope for further expansion of trade in the future. “We remain committed to deepening and expanding this vibrant partnership for the mutual benefit of our peoples and countries,” she said.

Last year, trade between the two nations totaled US$ 1.7 billion. Indian exports came to US$ 1.3 billion and Sri Lankan exports totaled US$ 382 million.